The study of the decision-making process of government is the study of:
A. Keynesian economics.
B. public choice theory.
C. rational expectations theory.
D. social economics.
Answer: B
You might also like to view...
The CPI is a measure of the:
A. average level of prices relative to prices in the base year. B. price of a specific good or service. C. rate of inflation. D. real wage.
Which of the following conditions does not characterize perfect property rights markets?
(a) universality (b) exclusivity (c) sustainability. (d) enforceability.
Under flexible exchange rate, the response of an economy to a temporary fall in foreign demand for its exports is
A) the currency appreciates, and output falls. B) the currency depreciates, and output falls. C) the currency depreciates, and output increases. D) the currency depreciates, and output remains constant. E) the currency appreciates, and output increases.
A union could raise wages without causing unemployment of union members if it can increase demand for union labor. How might this goal be achieved?
What will be an ideal response?