"Monetary instability has been the major cause of economic instability in this country. Expansion in the money supply has been the source of every major inflation. Every major recession has been either caused or perpetuated by monetary contraction." Who among the following would most likely adhere to this view?
a. Monetarists.
b. Keynesians.
c. Demand-side economists.
d. Quantity theorists.
a
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The above figure shows the market for pizza. The market is in equilibrium when the cheese used to produce pizza falls in price. What point represents the most likely new price and quantity?
A) A B) B C) C D) D E) E
A firm's shutdown point is the quantity and price at which the firm's total revenue just equals its
A) total cost. B) total variable cost. C) total fixed cost. D) marginal cost.
Monetarists are of the opinion that the private economy is inherently
A. unstable and the public sector should be small in scope. B. unstable and the public sector should be large in scope. C. stable, but that the public sector should be large in scope. D. stable and that the government sector should be small in scope.
Imitation as a strategy for acquiring new technology is based on the difference in effort between
a. creating it and thinking of it. b. creating it and looking it up. c. looking it up and writing it down. d. discovering it and innovating it.