Refer to Figure 15-12. Assume the firm maximizes its profits. What is the amount of consumer surplus?
A) $21 B) $124 C) $186 D) $332
C
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For a closed economy with no government, we know that at every level of GDP actual investment equals
A) the difference between planned investment and actual saving. B) the difference between planned saving and actual saving. C) planned investment. D) planned saving.
Milton Friedman's k-percent rule says to set the rate of growth of the quantity of money equal to
A) the real interest rate. B) a constant rate. C) the rate of growth of potential GDP. D) the unemployment rate. E) last year's growth rate of real GDP.
Explain whether the statement, "There is life on Mars," is a normative or positive statement
What will be an ideal response?
The actual unemployment rate can be greater than or less than the natural rate of unemployment.
Answer the following statement true (T) or false (F)