Self-interest is not necessarily selfish, some say. In fact, self-interest likely includes an individual’s consideration for Group of answer choices
A. A strangers.
B. C close friends and family.
C. B humankind as a whole.
Answer: A. A strangers.
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According to the classical model, prices and wages
A) must be set by government. B) move upward easily, but are "sticky" downward. C) are flexible. D) move downward easily, but are "sticky" upward.
Changes in government purchases affect aggregate demand only indirectly through consumption spending
Indicate whether the statement is true or false
Consider an intersection on a country road. Cars could negotiate with each other by waving to each other to pass or we could have stop signs or we could have yield signs. Which of these makes the most sense on a country road and what difference would it make if the intersection was in the city?
What will be an ideal response?
The adjustment back to a long-run equilibrium after a sudden decrease in aggregate demand:
A. happens very quickly, leading to a temporary decrease in the unemployment rate. B. happens very quickly, leading to a temporary increase in the unemployment rate. C. takes a long time, during which the economy is growing very rapidly and very few people are unemployed. D. takes a long time, during which the economy is not growing much and many people are unemployed.