Activist policymakers, compared to nonactivists, are more likely to emphasize ________ considerations and to prefer ________
A) short-run; rule-determined
B) long-run; discretionary policy
C) short-run; discretionary policy
D) long-run; rule determined
E) business; flexible plans
C
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________ believed that economic downturns would generally reverse themselves quickly without policy intervention.
A. Neither Keynes nor the classical macroeconomic theorists B. Keynes C. Classical macroeconomic theorists D. Both Keynes and the classical macroeconomic theorists
The distribution of wealth is skewed because more families are below the average level of wealth than are above
Indicate whether the statement is true or false
Suppose France can produce 9,000 potatoes or 3,000 lemons per day, and that Italy can produce 3,000 potatoes or 3,000 lemons per day. Which of the following statements in this context is true?
a. France has an absolute advantage in producing lemons. b. Italy has a comparative advantage in producing potatoes. c. Italy would be willing to trade one lemon for anything greater than one potato. d. Both countries would be willing to trade at a rate of one lemon for one potato. e. France has a comparative advantage in producing lemons.
Which of the following would shift the investment demand curve leftward?
a. Lower operating costs for capital goods b. Higher business taxes on capital goods c. Higher expected rates of return on investment in capital goods d. Lower maintenance costs for capital goods