What are the defining features of classical macroeconomics and what policies do classical macroeconomists recommend?
What will be an ideal response?
Classical macroeconomists believe that the economy is self-regulating and always at full employment. Classical macroeconomists assert that the proper government policy is to minimize the disincentive effects of taxes on employment, investment, and technological change.
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According to the World Bank, Albania does one of the worst jobs as a country enforcing the rule of law. The consequence of a weak rule of law is
A) a decrease in cash transactions and increased efficiency. B) more risk taking on the part of entrepreneurs and greater economic investment. C) strong property rights enforcement leading to greater investment. D) difficulty in attracting investment and low economic growth.
In general, which the following is NOT true about the "new" immigrants that arrived after 1880?
a. They experienced pervasive wage and hiring discrimination. b. They originated mostly from south and eastern Europe. c. They took the lowest positions in the social strata. d. All of the above are true about the "new" immigrants.
In sequential games,
a. Players take turns and observe their rivals choices before they make their choices b. Players take turns but don't observe their rivals choices before they make their choices c. Players move at the same time d. None of the above
Which of the proposals for education reform is likely to be supported by an economist concerned with efficiency?
A. Give families “education stamps” to be spent at the school of their choice. B. Assign children to particular schools based on where they live. C. Give all schoolchildren the same number of years of education. D. Abolish private (i.e., fee-charging) schools.