According to Alfred Chandler (1977), big business could be justified, at least in part, by the ability of large scale enterprises to take advantage of scale economies
Indicate whether the statement is true or false
True
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When the aggregate supply curve intersects the aggregate demand curve at a level of real GDP that exceeds potential GDP, is there an inflationary gap or a deflationary gap? What adjustments will take place?
What will be an ideal response?
If some non-price level determinant causes total spending to decrease, then the effect on aggregate demand will be a: a. movement upward along the curve
b. movement downward along the curve. c. shift to the left. d. shift to the right.
In the socialist controversy
a. Marx demonstrated the superiority of capitalism b. Marx demonstrated the superiority of socialism c. Keynes showed that capitalism was unstable d. Hayek and Mises argued that socialism would be inefficient e. Kornai talked about soft budgets
The civilian non-institutional population can be broken down into two groups:
A) employed persons and unemployed persons. B) persons working and persons not working. C) persons working in service jobs and persons working in manufacturing jobs. D) persons not in the labor force and persons in the labor force.