In 1984, British Prime Minister Margaret Thatcher decided to shut down so-called "uneconomic" coal mines owned by the government. The National Union of Mineworkers protested, asserting that there was enough coal in the mines to continue current levels of production for years. Thatcher implicitly argued that her decision was economically sound because, at any practical level of output, for each

In the text, the equivalence of the goods market equilibrium in the IS model to the equilibrium in which desired investment equals desired saving is demonstrated, assuming that both government purchases and net exports are zero

Demonstrate the equivalence when both G and NX are non-zero.

Unlike an owner, a manager may be more concerned with _____ than with _____. Which pair of words best completes this sentence?

a. profits, personal benefits b. personal benefits, profits c. profits, working conditions d. cost, revenue