Biology Forums - Study Force

The existence of stagflation in the 1970s undermined the credibility of demand-management policies.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

Transfer payments are an injection into the circular flow of income and expenditure model.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 3

Monopsony means a product market with single buyer.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 4

Because of automatic stabilizers, disposable income varies proportionately less than real GDP during periods of economic fluctuations.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

Disposable income equals personal income minus net taxes.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 6

To maximize profit, a monopsonist hires workers up to the point at which marginal factor cost (MFC) equals marginal revenue product (MRP).
 a. True
  b. False
  Indicate whether the statement is true or false

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All correct

Happy to help