An economist who is most likely to believe that people will never find $200 lying on the street is referred to as:
A. a mathematical economist.
B. an engineering economist.
C. a traditional economist.
D. a modern economist.
Answer: C
You might also like to view...
In a two-period model with production, a permanent increase in domestic government spending
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.
Which of the following is true about the relationship between price and quantity supplied?
A) There is always a direct relationship between price and quantity supplied. B) There is always an inverse relationship between price and quantity supplied. C) There is usually a direct relationship between price and quantity supplied. D) There is usually an inverse relationship between price and quantity supplied.
Suppose households attempt to decrease their money holdings. To counter this decrease in money demand and stabilize output, the Federal Reserve will
a. increase government spending. b. increase the money supply. c. decrease government spending. d. decrease the money supply.
If the price level rises, the effect on the expenditure schedule and equilibrium real GDP is to
A. increase both. B. decrease both. C. shift the expenditure schedule upward and decrease equilibrium real GDP. D. shift the expenditure schedule downward and increase equilibrium real GDP.