At times, someone with a good credit rating may not be able to get a loan. When this happens, the potential customer may be told to try again in the near future. What does this tell you about the bank’s reserves? How should the customer react to a situation like this?

Answer:

false

Explanation:

False, in a competitive market firms are price takers, production decisions by an individual firm will not affect the market price.

Final answer:

False, An individual firm in a competitive market cannot change the market price by altering its own production level. This is because in a competitive market, firms are price takers and their individual production does not significantly sway the market supply.

Explanation:

The statement 'A firm in a competitive market can change the market price by changing its own production level' is False. In a highly competitive market, individual firms are price takers, meaning they have no control over the market price. Changes in their own production levels do not affect the market price because such changes are relatively small compared to the total market supply. For instance, even if one firm decides to drastically cut production, the market price won't change significantly because there are many other firms in the market capable of filling the supply gap.

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The difference between the great leap forward in China and industrialization in Europe is described as the great leap featured communes without machines, while European industrialization included factories. Thus the correct answer is B.

What is industrialization?

When an economy transforms from being agricultural to being based on the production of goods, this process is known as industrialization. A lot of times, assembly lines take theplace of artists and mechanical mass production replaces individual manual labor.

While European industrialization contained factories, the big leap included communes without machines. A quick shift from an agrarian to an industrial society was the goal of China's economic and social campaign known as the Great Leap Forward.

Therefore, option B is appropriate.

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The correct answer is:

B. The Great Leap featured communes without machines, while European industrialization included factories.

The sentence best describes the difference between the Great Leap Forward in China and industrialization in Europe.

Answer:

Keynes

Explanation:

Andrea's ideas that individual citizens, rather than the government, should answer the basic economic questions; however, she feels that the government should prevent large changes in the economy are based on the economist, Keynes.

John Maynard Keynes a British economist was born on the 5th of June 1883.

Answer:

The answer is Keynes.

Explanation:

Keynesian economics refers to an economic theory of total spending in the economy and how it affects output and inflation. This theory was developed by the British economist John Maynard Keynes during the 1930s in an attempt to understand the Great Depression.

Keynes suggested that the government should increase expenditures and implement lower tax rates in order to stimulate demand and bring the world's economy out of the depression.

Answer:

Auto insurance: Repairs on damaged vehicles;

Disability insurance: Wages lost because of injury or illness;

Renter's insurance: Stolen personal possessions; Health insurance:

Visits to the doctor or hospital.

Explanation:

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