Cradle-to-grave security is most common in ___________ countries.
A. Capitalist
B. Communist
C. Socialist
D. Fascist
C. Socialist
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The quantity of real GDP demanded on the AD curve is the equilibrium real GDP when
A) equilibrium expenditure is greater than real GDP. B) aggregate planned expenditure equals real GDP. C) the price level equals the equilibrium price level. D) aggregate planned expenditure is greater than real GDP. E) aggregate planned expenditure is less than real GDP.
As a result of a decrease in the price of gasoline, consumers can afford to buy more gasoline for more driving trips. This is an illustration of
A. consumer sovereignty. B. the substitution effect. C. diminishing marginal utility. D. the income effect.
How do people maximize net gains from the decisions they make?
a. by choosing to participate only in activities with increasing marginal benefits b. by choosing to participate only in activities without costs c. by pursuing an activity until marginal cost equals marginal benefit d. by including sunk costs as a relevant cost in all decisions
Expansionary fiscal policy leads to a ________
A) leftward shift of the labor supply curve B) rightward shift of the labor demand curve C) leftward shift of the labor demand curve D) rightward shift of the labor supply curve