The fact that everyone wants a particular good produced and is willing, if necessary, to pay a proportionate cost of its production
What will be an ideal response?
does not assure that anyone will in fact contribute toward paying for its production.
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If there is no Ricardo-Barro effect, an increase in the budget deficit
A) decreases the amount of investment. B) increases the supply of loanable funds. C) lowers the equilibrium real interest rate. D) increases the amount of investment. E) decreases the demand for loanable funds.
How would government's role differ between the balanced and unbalanced growth models?
What will be an ideal response?
As the amount of time a consumer has to adjust to a change in price increases, so does the price elasticity of demand for a good
Indicate whether the statement is true or false
Structural unemployment
A) falls during the expansion phase of the business cycle. B) falls as the pace of technological progress increases. C) generally lasts longer than frictional unemployment. D) falls when the government provides more generous unemployment compensation benefits.