Fact: Churches and charities work hard to acquire more money to advance their projects. They happily accept money because
A) they are clearly selfish and materialistic.
B) the transaction costs of donating money are generally lower than the costs of donating other goods and services.
C) they tend to see money as the root of all evil, and by collecting it they can more effectively destroy it and change the system for the better.
D) none of the above.
B
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A model is defined as a:
a. description of all variables affecting a situation. b. positive analysis of all variables affecting an event. c. simplified description of reality to understand and predict an economic event. d. prediction based on historical evidence.
The investment spending function shows the relationship between investment spending levels and gross national product
a. True b. False Indicate whether the statement is true or false
The differences in the desirability of different jobs within a company could give rise to a compensating differential between workers
a. True b. False Indicate whether the statement is true or false
Figure 15-3
As shown in , if people behave according to rational expectations theory, an increase in the aggregate demand curve from AD1 to AD2 will cause the economy to move
a.
directly from E1 to E3 and then remain at E3.
b.
directly from E1 to E2 and then remain at E2.
c.
from E1 to E2 initially and then eventually move back to E1.
d.
from E1 to E2 initially and then eventually move to E3.