Economists may disagree about how to solve an economic problem because they
A. use different models to analyze the problem and its solutions.
B. have different political and moral beliefs.
C. disagree about the facts of the situation.
D. All of these responses are correct.
Answer: D
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Everything else held constant, an increase in the money market fund ratio will result in ________ in the M1 money multiplier and ________ in the M2 money multiplier
A) an increase; an increase B) no change; an increase C) a decrease; a decrease D) no change; a decrease
AK growth models argue that which type or types of capital may not be subject to diminishing returns?
A) only physical capital B) physical capital and human capital C) human capital and knowledge D) knowledge and physical capital
Featherbedding allows unions to increase wages by:
a. limiting the supply of labor. b. increasing firms' demand for labor. c. forcing firms to accept higher-than-equilibrium wages. d. reducing labor share of payroll taxes.
In general, it is reasonable to assume that the average person's standard of living is ____________ in a ____________ economy than in a ____________ economy.
A. higher; money; barter B. lower; barter; money C. higher; barter; money D. lower; money; barter a and b