A statement about economic behavior or the economy that enables prediction of the probable effects of certain actions is known as a(n) ______.
Answer:
-Economic Principle
- Economic Law
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What is equity, and how does it differ from efficiency?
What will be an ideal response?
________ are the most important monetary policy tool because they are the primary determinant of changes in the ________, the main source of fluctuations in the money supply
A) Open market operations; monetary base B) Open market operations; money multiplier C) Changes in reserve requirements; monetary base D) Changes in reserve requirements; money multiplier
How might openness to the global economy influence the debate between policy activists and nonactivists?
What will be an ideal response?
The economist John Kenneth Galbraith (1979) lists several major sources of weakness in the economy that laid the groundwork for the collapse of the 1930s. These sources include all of the following except
(a) A weak banking structure (b) Ignorance of the economy's problems by the nation's leaders (c) An overgrown federal bureaucracy with extensive regulation of the private economy (d) An increasingly unequal distribution of income