With respect to private goods, a Pareto optimal system is one in which ________ that make(s) some societal members better off without making others worse off have (has) been exhausted.
A. no trades
B. all possible trades
C. all profitable trades
D. at least one trade
Answer: B
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Which of the following statements is true of unemployment?
A) In periods of contraction, the unemployment rate in an economy decreases. B) The unemployment rate in most of the developed nations in the world is zero percent. C) In periods of expansion, the unemployment rate in an economy increases. D) The rate of unemployment is positive in any well-functioning economy.
The decision that households make to save is independent of the decisions businesses make to invest
Indicate whether the statement is true or false
If fiscal policy were able to exert a significant impact on the economy during the Great Depression, we would expect
a. an increase in government expenditures and a reduction in budget deficits. b. an increase in government expenditures and an increase in budget deficits. c. a decrease in government expenditures and a reduction in budget deficits. d. a decrease in government expenditures and an increase in budget deficits.
___________ economics led to the creation of the communist state in Russia, Cuba, and other nations.
A. Malthusian B. Marxist C. Smithian D. None of these choices are correct