A laissez-faire macroeconomic policy, based on a __________ in self regulating properties of the economy, implies __________ by the government
A) belief; active policymaking
B) belief; noninterference
C) disbelief; active policymaking
D) disbelief; noninterference
B
You might also like to view...
Bill Gates wants billions of dollars, and has them. Buddha wanted nothing, and had nothing. What can an economist conclude?
A) Gates is wealthy, Buddha wasn't. B) Buddha was wealthy, Gates isn't. C) Gates is wealthy, and so was Buddha. D) Nothing
One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that ________ is (are) identical in all countries
A) factor endowments B) scale of production C) factor intensities D) technology E) opportunity costs
In a general equilibrium model
A) all markets but one clear. B) there are no fluctuations. C) all prices are exogenous. D) all prices are endogenous.
Both a perfectly competitive firm and a monopolist:
a. always earn an economic profit. b. maximize profit by setting marginal cost equal to marginal revenue. c. maximize profit by setting marginal cost equal to average total cost. d. are price takers.