When government spending is added to consumption and planned investment, the slope of the aggregate expenditure function increases
a. True
b. False
Indicate whether the statement is true or false
False
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Recessions are periods of declining economic activity.
Answer the following statement true (T) or false (F)
The distinction between efficiency and equality can be described as follows:
a. Efficiency refers to maximizing the number of trades among buyers and sellers; equality refers to maximizing the gains from trade among buyers and sellers. b. Efficiency refers to minimizing the price paid by buyers; equality refers to maximizing the gains from trade among buyers and sellers. c. Efficiency refers to maximizing the size of the pie; equality refers to producing a pie of a given size at the least possible cost. d. Efficiency refers to maximizing the size of the pie; equality refers to distributing the pie fairly among members of society.
The best example of a "frictionally unemployed" worker is one who:
a. Is in the process of voluntarily switching jobs b. Is discouraged and not actively seeking work c. Is laid off during a recessionary period in the economy d. Reduces productivity by causing frictions in a business
The most likely complementary good for cereal would be:
A. milk. B. a bagel. C. a sub sandwich. D. pizza.