Laissez-faire is a French expression which literally means
a. to make do.
b. to get involved.
c. whatever works.
d. allow them to do.
d
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How has the U.S. growth experience compared to that of Central Europe and Africa? How has compared to the recent experience of Asian nations such as Hong Kong and Singapore
What will be an ideal response?
Which of the following is not necessarily a consequence of occupational licensing laws?
A) They ensure that licensed professionals meet some minimum qualifications. B) They result in a higher quality of service. C) They restrict competition. D) Consumers pay higher prices for the services of licensed professions.
Which of the following statements is correct?
a. The "law" of diminishing marginal utility implies that demand curves slope upward and to the right. b. If the price of a good falls, the utility-maximizing consumer will assure that marginal utility rises. c. If the price of a good falls, the consumer will purchase more of the good in order to maximize total utility. d. MU and demand have different underlying consumer behavior assumptions.
Which one of the following will cause velocity to increase?
A. Decreasing the interest rates B. Increasing the efficiency of the payments system C. Switching from weekly to monthly payroll checks D. Increasing the money supply