Keynesian economics developed in response to:
a. the Great Depression of the 1930s.
b. the inflation following World War II.
c. economic growth during the 1950s.
d. the Vietnam War.
e. the oil embargo in the 1970s.
a
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The theory of investment that emphasizes the role of expected growth in real GDP on investment spending is known as
A) the theory of animal spirits. B) the accelerator theory. C) real business cycle theory. D) the multiplier theory.
Keeping a $20 bill in your purse to purchase a movie DVD when it comes out next month means that money functions as a
A) medium of exchange. B) unit of account. C) standard of deferred payment. D) store of value.
Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit.Table 19.3Michael's Utility ScheduleUnits of ColaTU of ColaMU of ColaUnits of PretzelsTU of PretzelsMU of Pretzels14040130302 322 2039624366164112 478 5124 584 In Table 19.3, what is the marginal utility of the fifth unit of cola?
A. 24. B. 6. C. 12. D. 16.
To be an example of a public good, a good must be both rival in consumption and nonexcludable.
Answer the following statement true (T) or false (F)