Which school of thought argues that because people anticipate the consequences of announced government policy and incorporate these anticipated consequences into their decision making, they end up undermining government policy?
a. neo-Keynesian
b. Keynesian
c. monetarist
d. supply-side
e. rational expectations
E
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A monopoly, unlike a perfect competitor, has total control in its market because it is the single producer. Why, then, must a single-price monopoly decrease its price if it wants to increase its output?
What will be an ideal response?
If two goods are complements, then their
A) indifference curves are positively sloped straight lines. B) indifference curves are negatively sloped straight lines. C) indifference curves are L-shaped. D) marginal rate of substitution is infinity.
A key to creating effective policy to fight poverty is to understand:
A. why people are poor. B. the correlation between education and income. C. the correlation between income and geographic location. D. the unintended consequences of reductions in the incentive to work.
Three uses of gdp data
What will be an ideal response?