According to Keynesian economics, fiscal policy should create a deficit during economic contractions
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following events would cause an upward movement along the demand curve for olives? a. The number of people who purchase olives decreases
b. Consumer income decreases, and olives are a normal good. c. The price of pickles decreases, and pickles are a substitute for olives. d. The price of olives rises.
In the short run under perfect competition, an individual firm should increase output as long as
a. marginal revenue exceeds marginal cost b. total revenue exceeds total cost c. price exceeds marginal revenue d. total revenue is rising e. marginal revenue is rising
All of the following are properties of the most exciting economic? questions, except good questions
A. address topics that are important to society. B. can be answered. C. address topics that are important to individual economic agents. D. cannot be answered.
When applying the marginal principle, you should pick the level at which the activity's marginal benefit equals its marginal cost.
Answer the following statement true (T) or false (F)