In an economy described by the assumptions of the simple Keynesian Model, the impact of fluctuations in autonomous investment on consumption spending could be
A) caused by government tax and spending policies.
B) explained by changes in output, Y.
C) endogenous.
D) offset by government tax and spending policies.
D
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How do the price, output, consumer surplus, economic profit, and total surplus for a single-price monopoly compare to that of a competitive industry?
What will be an ideal response?
When will a shortage occur in a market?
a. When the actual price is lower than the equilibrium price b. When quantity supplied is greater than the equilibrium quantity c. When the quantity that consumers are willing and able to purchase decreases d. When the quantity available at zero price is insufficient to meet demand e. When a price floor is set in the market
When a firm can achieve economies of scale by expanding, its long-run ATC curve:
A. is flat. B. slopes upward. C. slopes downward. D. Any of these is possible.
"Profits are a reward for risk-bearing" would be a view held by
A. Joseph Schumpeter. B. Frank Knight. C. Henry George. D. Karl Marx.