What type of policies did Adam Smith attack in his book, An Inquiry into the Nature and Causes of the Wealth of Nations?
What will be an ideal response?
Mercantilism
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
When we compare poor and rich countries in the world
A) There is much greater dispersion in growth rates in per capita income for the poor countries than for the rich countries. B) The investment rate is higher for poor countries than for rich countries. C) There is much greater dispersion in growth rates in per capita income for the rich countries than for the poor countries. D) Population growth rates are higher in rich countries than in poor countries.
Normative analysis focuses on statements that can be tested against real-world data
a. True b. False Indicate whether the statement is true or false
Which of the following is a point made by economist Richard Easterlin (for whom the Easterlin Paradox is named) based on his research?
A) Rich people tend to be happier than poor people in the same country. B) People in richer countries tend to be no happier than people in poorer countries. C) People in richer countries tend to be much happier than people in poorer countries. D) People in poorer countries tend to be much happier than people in richer countries. E) a and b