Q: How Many Economists Does It Take to Change a Light

question 242

Multiple Choice

Q: How many economists does it take to change a light bulb? A: All. Because then you will generate employment, more consumption, moving the aggregate demand curve to the right.
This joke represents the view of

• A) classical economists.
• B) Keynesian economists.
• C) economists who contend that money illusion never occurs.
• D) economists who conclude that wages and prices are very flexible.

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Definitions:

Profitability Strategy

A business approach focused on increasing net income through revenue enhancement, cost reduction, or both.

Breakeven Analysis

A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, thus no net loss or gain is incurred.

Company's Costs

Company's costs refer to the various expenses a company incurs in its operations, including production, marketing, and administrative expenses.

Level of Sales

This term refers to the total volume or value of sales achieved by a company, product, or service over a specific period, indicating its market performance.