Mass production is possible only if there is also __________________________.
Fill in the blank(s) with the appropriate word(s).
mass consumption
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Automatic fiscal policy ________
A. requires an action of the government B. is weak unless the government cuts its outlays to reduce the deficit C. operates as the economy moves along its business cycle D. reduces the deficit as the economy goes into recession
The efficient quantity of a public good occurs when the marginal cost of providing that good equals the sum of the marginal benefits to all individuals
Indicate whether the statement is true or false
A self-enforcing agreement:
A. describes an agreement in which every party involved has an incentive to abide by it, assuming that others do the same. B. requires a contract. C. describes the strategy that makes up a Nash equilibrium. D. describes the strategy that makes up a Nash equilibrium and describes an agreement in which every party involved has an incentive to abide by it, assuming that others do the same.
If the U.S. dollar appreciates against the Japanese yen:
A. Japanese goods will be more expensive in the United States. B. the U.S. dollar will buy fewer Japanese yen. C. Japanese goods will be cheaper in the United States. D. U.S. goods will be cheaper for Japanese consumers.