Aggregate private spending is stable according to non-activists PRIMARILY because
A) consumer spending is insulated from changes in income according to the PIH and LCH theories.
B) private residential and non-residential investment is volatile.
C) government spending is volatile.
D) the money supply is unstable.
A
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Which of the following is the most important advantage of using money rather than relying exclusively on barter?
A) The use of money encourages people to diversify and learn to do more things for themselves. B) The use of money encourages people who want to exchange to become more closely acquainted. C) The use of money lowers the cost of locating people with whom to exchange. D) The use of money reduces opportunities for fraud and theft. E) The use of money reduces selfishness because money in itself has no value.
What are the functions for MC and AC if TC = 20q + 10q2?
A) MC = 20q; AC = 10q2 B) MC = 20 + 20q; AC = 20 + 10q C) MC = 20 + 10q; AC = 10 + 10q2 D) MC = 20 + 20q; AC = 10q