The Keynesian approach assumes that
A) the economy is self-regulating. B) there is no unemployment in the economy.
C) the price level is fixed. D) the government budget is always in deficit.
C
Economics
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In the figure above
A) moving from point a to point b would require new technology. B) production at point b is efficient whereas production at point a is not efficient. C) some resources must be unemployed at point c. D) opportunity costs are decreasing.
Economics
What is the profit maximization point for a firm in a purely competitive environment?
a. The output where P = MC b. The output where P < MC c. The output where P > MC d. The output where MR = MC e. The output where AVC < P
Economics