The government buts new weapons systems. The manufacturers of weapons pay their employees. The employees spend this money on goods and services. The firms from which the employees buy the goods and services pay their employees. This sequence of events illustrates
a) the accelerator effect.
b) the multiplier effect.
c) the chain effect.
d) the bandwagon effect.
Ans: b) the multiplier effect.
Economics
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In economics, which of the following is considered part of "land"? a. A 500 acre forest
b. bauxite deposits. c. underground pools of crude oil. d. All of the above except a. are included in the category, "land.".
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The typical welfare family consists of a ____________ and ____________ children.
Fill in the blank(s) with the appropriate word(s).
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When looking at this graph for the welfare effects of a subsidy, which area represents the cost of the subsidy to the government?
a. area a + b + c + d
b. area b + e + f + c + g
c. area f
d. area a + b – c
Economics
Relative Importance
What will be an ideal response?
Economics