The emphasis by some economists on long-term outcomes is reminiscent of
A. Classical theory.
B. Supply-side theory.
C. Keynesian theory.
D. None of the choices are correct.
Answer: A
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Economic advisers who fear that the economy is growing too rapidly would recommend that the government decrease spending and/or increase taxes
Indicate whether the statement is true or false
If the price of aluminum used to make bicycles increases, the price of a bicycle rises because of a
A) rightward shift of the demand curve for bicycles. B) rightward shift of the supply curve of bicycles. C) leftward shift of the demand curve for bicycles. D) leftward shift of the supply curve of bicycles.
An explanation for the productivity slowdown from 1974 through 1995 is
A) measurement problems. B) an increase in labor quality. C) creative destruction. D) a decline in oil prices.
Prices for airline tickets change on average about once per month. This would suggest that airline ticket prices are:
A. stuck. B. determined in a highly competitive market. C. relatively sticky. D. relatively flexible.