The only school of economics that could be construed as advocating big government are the
A. classicals.
B. Keynesians.
C. monetarists.
D. supply-siders.
B. Keynesians.
You might also like to view...
The information in the above table gives the 2000 base period market basket and prices used to construct the CPI for a small nation. The table also has 2010 prices. What is the value of the CPI for the base period 2000?
A) 140 B) 100 C) 30 D) 75 E) 133
The more sensitive people are to a change in price, the
A) greater a change in price must be to induce a certain change in quantity demanded. B) greater is the price elasticity of demand. C) smaller the price elasticity of demand. D) closer the price elasticity of demand is to one.
American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Which country has an absolute advantage in producing cars? In producing grain?
a. U.S in cars; Japan in grain b. Japan in cars; U.S in grain c. U.S in cars; U.S in grain d. Neither in cars; U.S in grain
________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors
A) Absolute advantage B) Specialization C) Autarky D) Comparative advantage