In Keynesian analysis, the level of investment that does NOT depend on disposable income increases is called
A. unplanned.
B. irrational.
C. discretionary.
D. autonomous.
Answer: D
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In the figure above, an
A) efficient output results, but the firm incurs a loss per household which must be subsidized in some way. B) inefficient output results, though the firm covers its costs. C) efficient output results, though marginal costs exceed average total costs. D) inefficient output results because the firm cannot cover its costs. E) efficient output results because consumer surplus is maximized.
Financial intermediaries are specialists in the production of
A) market failure. B) information. C) traded assets. D) commercial paper.
If demand is inelastic, a drop in price will raise total expenditure
a. True b. False Indicate whether the statement is true or false
At any quantity, the price given by the supply curve shows the cost of the lowest-cost seller
a. True b. False Indicate whether the statement is true or false