Property rights have a positive effect in a market economy because they encourage owners to maintain their property.
Answer the following statement true (T) or false (F)
True
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Use the following table to answer the question below.(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Suppose that market demand is represented by two demanders in columns (1) and (2) and market supply is represented by two suppliers in columns (4) and (5). If the price were artificially set at $6
A. demand would change from (2) to (1). B. a surplus of 50 units would occur. C. the market would clear. D. a shortage of 110 units would occur.
A primary emphasis of the Keynesian school is the economy:
a. has a tendency to always create a full-employment level of output. b. has a tendency to always create inflationary pressure at all levels of output. c. has a tendency to eliminate unemployment by lowering wage rates to create an equilibrium in the labor market. d. is driven by the supply-side of the market. e. has a tendency to be in equilibrium at less than full employment.
In the short run average costs eventually increase because of ________, and in the long run average costs eventually increase because of ________.
A. diseconomies of scale; diminishing returns B. constant returns to scale; decreasing returns to scale C. increasing returns to scale; diseconomies of scale D. diminishing returns; diseconomies of scale
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline