Which of the following economic theories share(s) the noninterventionist policy conclusions of the original classical theory?
a. The Keynesian theory
b. The monetarist theory
c. The new classicist theory
d. Both b and c
e. All of the above
D
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Other things constant, when household "time preferences" ________, business investment tends to ________
A) fall; fall B) fall; rise C) rise; fall D) rise; rise
When the total product curve is drawn in a figure that measures employment along the horizontal axis, it is a graph that shows the
A) minimum cost of producing a given amount of output using different techniques. B) maximum profit attainable for each unit of output sold per unit of labor employed. C) maximum output attainable for each quantity of labor employed. D) minimum output attainable for each quantity of labor employed.
Under the Bretton Woods Agreement, the goal of the IMF was to
A) finance international transactions in gold. B) lend to countries experiencing balance of payment deficits. C) help less developed countries advertise their goods in the developed countries. D) provide oversight to the functioning of central banks in the member countries.
What actions should the Fed take if it believes the economy is about to fall into recession?
What will be an ideal response?