An important failure of the "new economics" of the 1960s was its ________ monetary policy and its ability if made ________ to offset a tighter fiscal policy
A) denigration of, tighter
B) denigration of, easier
C) overemphasis on, tighter
D) overemphasis on, easier
B
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If two players engaged in a prisoner’s dilemma game are likely to repeat the game, they are more likely to cooperate than if they play the game only once.
a. True
b. False
Indicate whether the statement is true or false
Which group of economists argues that the stock market crash of 1929 significantly reduced wealth, causing consumption to fall and resulting in a significant downturn in residential construction and investments?
(a) Classical economists. (b) Keynesian economists. (c) Monetarists. (d) Austrians.
Economists who believe that policy errors are the source of economic instability argue that the crisis of 2008 was primarily the result of
a. housing regulations that undermined sound lending practices and Fed policies that generated the housing boom and bust. b. the stock market crash. c. the actions of speculators who drove up the world price of oil, the domestic price of gasoline, and other energy sources. d. persistently high interest rates during the decade leading up to the crisis.
The purchase of a virtual item from an online company with a virtual currency causes the nation's:
a. Monetary base to rise. b. M2 money multiplier to fall. c. M2 money multiplier to remain the same. d. M2 money supply to fall.