The view that anticipated changes in the money supply will have no effect on the economy's output would most likely be a proposition of:
A. Mainstream macroeconomics
B. Rational expectations theory
C. Real-business cycle theory
D. Monetarism
B. Rational expectations theory
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If the demand for cucumbers falls when the price of tomatoes rises, then we know that tomatoes and cucumbers are:
A. substitutes. B. normal goods. C. complements. D. inferior goods.
The cost-benefit model used by economists is:
A. useful because everyone follows it all of the time. B. useful because most people follow it most of the time. C. unrealistic because everyone can think of times when he or she violated the principle. D. unrealistic because it is too detailed and specific to apply to most situations.
Refer to the table below. According to the table, Corey has the absolute advantage in: Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. neither making nor delivering pizza. B. making and delivering pizza. C. delivering pizza. D. making pizza.
The most important factor in reversing the economic decline of 1929-1933 was that
A. the federal government finally balanced its budget. B. the stock market began to rise. C. people became more optimistic. D. the federal government began to spend a huge amount of money.