The combination of psychology and economics to determine individual decision making is known as
A. psychonomics.
B. neuronomics.
C. behavioral economics.
D. positive analysis.
Answer: C
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Which set of points would show a movement from depression to full employment?
A. a movement from Point C to B
B. a movement from Point B to A
C. a movement from Point C to E
D. a movement from Point D to C
If tax rates are cut, one might expect to observe an increase in the budget deficit. Supply-siders question this observation, arguing that
A. this is a price that must be paid for a more equitable tax system. B. when taxes are cut, expenditures must also be cut. C. a decrease in the tax rate may actually generate an increase in tax revenues. D. tax wedges will make up the difference.
According to Keynes, the primary cause of large-scale unemployment is inadequate _____.
Fill in the blank(s) with the appropriate word(s).
Higher prices for ________ that are widely used across the entire economy can cause aggregate supply to shift.
a. inputs b. finished goods c. outputs d. products