An economist builds a model by beginning with certain self-evident principles and then derives the implications of that model. What approach is this economist taking?
A. Deductive
B. Experimental
C. Apophatic
D. Inductive
Answer: A
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Under the gold standard, each country had little control over its own monetary policies
a. True b. False
The percent of population that experiences transient poverty at some point in their lives is:
A. less than 10 percent. B. approximately 12 percent. C. more than 25 percent. D. approximately 40 percent.
The demand curve faced by an oligopolistic producer depends on how rival firms react to its prices and policies
a. True b. False Indicate whether the statement is true or false
An increase in the reserve ratio, ?, will cause
A) an increase in the monetary base (H). B) a reduction in H. C) an increase in the money multiplier. D) a reduction in the money multiplier. E) none of the above