A flat LM curve implies that
A) an increase in government spending will change output by a relatively small amount.
B) a decrease in taxes will change output by a relatively small amount.
C) changes in government spending and taxes will have a large multiple effect on output.
D) A and B.
C
Economics
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When total utility is at a maximum, marginal utility is:
a. increasing. b. at a minimum. c. equal to zero. d. decreasing. e. at a maximum.
Economics
The theory that explains the shift of color TV sets production from the United States to Japan and Taiwan is called the _____ theory
a. productivity difference b. factor abundance c. product life cycle d. preference e. human skills
Economics