Restrictive fiscal policies pull interest rates down.
Answer the following statement true (T) or false (F)
True
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Which of the following statements is true?
A) Positive economics describes what people ought to do. B) Normative economics describes what people actually do. C) Positive economics generates objective descriptions that can be verified with data. D) Normative economics is free from value judgments, tastes, and preferences of economic agents.
Economists believe that people are:
A. generally risk-seekers. B. generally risk-averse. C. always risk-averse. D. always risk-seekers.
The loss of the profit motive by a publicly owned natural monopoly could:
A. increase the motivation to improve efficiency. B. reduce the motivation to improve efficiency. C. increase the incentive to provide better service. D. increase the incentive to lower costs.