Which of the following is false?
A. The classical economists advocate laissez-faire economics.
B. Keynesians advocate an active government role for curing a recession.
C. Keynes suggested that the normal economic state of affairs was full employment.
D. The classicals believed everything produced would necessarily be purchased.
C. Keynes suggested that the normal economic state of affairs was full employment.
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A tax imposed on the buyers of a good will lower the
a. price paid by buyers and lower the equilibrium quantity. b. price paid by buyers and raise the equilibrium quantity. c. effective price received by sellers and lower the equilibrium quantity. d. effective price received by sellers and raise the equilibrium quantity.
In the market for reserves, if the federal funds rate is between the discount rate and the interest rate paid on excess reserves, a ________ in the reserve requirement decreases the demand for reserves, ________ the federal funds interest rate,
everything else held constant. A) rise; lowering B) decline; raising C) decline; lowering D) rise; raising
_______________ is the practice of hiring people in other countries to do a job that was once done domestically
A) Offshoring B) Onshoring C) Insourcing D) Megasourcing
Markets will underproduce goods that yield external benefits and overproduce those that generate external costs.
Answer the following statement true (T) or false (F)