A heterodox model would not call for freezing wages and prices, but an orthodox one would
Indicate whether the statement is true or false
FALSE
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Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. What is the cost to Firm C of eliminating 2 tons of pollution?
A. $1,300 B. $300 C. $1,500 D. $2,200 E. $3,500
As the price of a good declines, a utility-maximizing consumer will respond by purchasing more of that good
a. True b. False Indicate whether the statement is true or false
What is the Ricardian equivalence proposition?
a. Governments change their spending/savings to offset private households spending/saving. b. Governments and private households change their spending and saving decisions in the same direction. c. Private households change their spending/saving to offset government spending/saving. d. Private households do not take government spending/saving into consideration when making decisions.
Every time a bank calls in a loan, demand deposits are created
a. True b. False