The neoclassical synthesis
A) was a name coined by Keynes himself for his new theories.
B) rejected virtually all of Keynes' insights.
C) held that econometric models of the economy could not be used to predict the future.
D) held that economy always operated at or very near the natural rate of unemployment.
E) was the dominant school of thought among economists in the 1950s and 1960s.
E
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Early population-control efforts focused on the availability of contraceptives. What factors in developing countries call for more integrated efforts?
What will be an ideal response?
Most economists today believe that the Phillips curve is
a. vertical in the short run but downward sloping in the long run. b. upward sloping in the short run but vertical in the long run. c. downward sloping in the short run but vertical in the long run. d. vertical in the short run but upward sloping in the long run.
Monetarists argue that fiscal policy is ineffective because:
A. the velocity of money is predictable. B. the crowding-out effect reduces investment. C. prices and wages are sticky in the short run. D. it causes the value of the dollar to depreciate.
Political representation can be understood in all of the following ways EXCEPT ______.
A. formalistic B. substantive C. symbolic D. traditionalistic