Laissez-faire is an economic:
A. theorem because it is the logical conclusion of a model with carefully stated relationships among variables.
B. precept because it is the logical conclusion of a model with widely held assumptions.
C. theorem because it is based on deductive analysis of a model that is based on assumptions.
D. precept because it is based on a model and normative judgments about the relevance of the model to the real world.
Answer: D
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Checkable deposits are included in
A. M1 but not in M2. B. M2 but not in M1. C. both M1 and M2. D. neither M1 nor M2.
See the information in Scenario 4.4. Suppose that the price should increase slightly from $10, how will this affect the total expenditure of consumers on the game?
A) Total expenditures will increase. B) Total expenditures will not change. C) Total expenditures will decrease by a larger percentage than the price increase. D) Total expenditures will decrease by a smaller percentage than the price increase. E) either C or D could be true.
There are about 5 million business firms in the Unites States
a. True b. False Indicate whether the statement is true or false
Discretionary policy calls for continual adjustments to the money supply and is associated with the monetarist perspective.
a. true b. false