New classical economists believe that
A. wage and price controls are needed to help control inflation.
B. governmental intervention is destabilizing and harmful to the economy.
C. the federal government has abdicated its responsibility to promote a non-inflationary full employment economy.
D. antitrust laws should be toughened in order to restrain inflation.
B. governmental intervention is destabilizing and harmful to the economy.
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Some people do not engage in free riding, even when there is no cost or chance or reprisal. Discuss why?
What will be an ideal response?
School Board Voters' Ordered PreferencesDavidErnieFionaNew gymNew libraryNew computer labNew libraryNew computer labNew gymNew computer labNew gymNew libraryIf a pair-wise majority vote was held to determine which school project gets funded, the voters' preferences are shown in the table, and the gym and library are voted on first, which project will win in the end?
A. Gym B. Computer lab C. Library D. It is impossible to predict which project would win.
Which of the following explains how consumers in Lumberland might be affected when its producers begin exporting wood and wood products to other countries?
a. Prices for wood and related wood products begin to fall. b. Wood products such as pulp and paper are no longer available. c. Consumers suffer as all prices in the economy begin to rise. d. Prices for wood building materials and furniture begin rising.
A(n) ___________ in income will shift the budget line to the left.
a. increase b. decrease c. no change