When it comes to people's tastes, economists generally believe that
a. tastes are based on forces that are well within the realm of economics.
b. tastes are based on historical and psychological forces that are beyond the realm of economics.
c. tastes can only be studied through well-constructed, real-life models.
d. because tastes do not directly affect demand, there is little need to explain people's tastes.
b
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When the Fed buys securities from the public, banks' reserves ________ and the quantity of money ________
A) increase; increases B) increase; decreases C) decrease; increases D) decrease; decreases E) do not change; increases
What are the likely consequences of providing monetary incentives to politicians for good performance?
What will be an ideal response?
Explain briefly PPP and IRP. Why might the latter hold better than the former over time?
What will be an ideal response?
The Full Employment and Balanced Growth Act of 1978 is also called the Humphrey-Hawkins Act and requires the President to appear before Congress twice a year to present his forecast for the economy
Indicate whether the statement is true or false