A useful theory must

A. apply to every conceivable situation.

B. be broadly applicable.

C. be agreed upon by all economists.

D. not be able to be refined.


B. be broadly applicable.

Economics

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Government-imposed limits on price movements are likely to

A. increase economic efficiency. B. decrease economic efficiency. C. leave economic efficiency unchanged. D. promote economic growth in the economy.

Economics

Is the "international adjustment mechanism" for fixed and flexible exchange rates the same? Discuss briefly

What will be an ideal response?

Economics

The shift from wanting to own all to owning only what is needed is an example of a _________________

a. Paradigm shift b. Goal re-evaluation c. Reformation d. Retro-change

Economics

Congress decided to implement a fiscal policy, but argued for weeks about how to do it. Once they agreed on a plan, the president had to deliberate and consult his cabinet members before signing it. This is an example of ______.

a. an impact lag b. a crowding-out lag c. a recognition lag d. an implementation lag

Economics