Which of the following equations is always correct in an open economy?
a. I = Y - C
b. I = S
c. I = S - NCO
d. I = S + NX
c
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How are the labor force and the unemployment rate calculated?
What will be an ideal response?
The nature of employer liability changed in the 19th century through judicial instrumentalism and had what effect?
(a) Reducing the risks and the costs of business, making business enterprise more daring and profitable than it would have been otherwise. (b) Increasing the risks and the costs of business, making business enterprise more daring and profitable than it would otherwise have been. (c) Continuing the older doctrine that employers could be found guilty of contributory negligence, thus increasing the employer's liability for worker injury. (d) None of the above were effects of the changes to the nature of employer liability.
The way in which an oligopolist acts in response to a price change by a competitor is known as a
A) zero-sum game. B) positive-sum game. C) reaction function. D) cooperative game.
Which of the following conditions must hold if a consumer is maximizing her utility?
A. MUX × PX = MUY × PY B. MUX = MUY C. MUX/PY = MUY/PX D. MUX/PX = MUY/PY