Keynes used the term "animal spirits" to refer to
a. policy makers harming the economy in the pursuit of self interest.
b. arbitrary changes in attitudes of household and firms.
c. mean-spirited economists who believed in the classical dichotomy.
d. firms' relentless efforts to maximize profits.
b
Economics
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A firm is currently selling its output for $10 per unit and is producing where marginal revenue equals marginal cost at an output level of 100 units
If the firm's total variable costs are $900 and its fixed costs are $300 should it produce in the short run or shut down?
Economics
Total governmental purchases—federal, state, and local combined—accounted for about what percentage of domestic output in 2012?
A. 35 percent. B. 20 percent. C. 10 percent. D. 5 percent.
Economics