________ emphasize(s) that changing productivity and technology are the main reasons behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory
C) Ricardian theory D) Monetary theories
A
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In the famous allegorical work The Wonderful Wizard of Oz, the symbol for William Jennings Bryant (one-time leader of the free-silver movement) was the
A) Yellow brick road. B) Scarecrow. C) Lion. D) dog named Toto.
According to Adam Smith, the "invisible hand" refers to which of the following?
a. Government interference in markets to prevent greed. b. The "best interests of society" (public interest) will occur as an outcome of the market process coordinating the self-interested interactions of buyers and sellers (private interest). c. The "best interest of society," (public interest) will occur as an outcome of careful guidance by government authorities in allocating scarce goods and services according to private interest. d. Bribes and graft that interfere with the market process.
If the cross-price elasticity of demand between two goods is -1.2, then the two goods are:
A. elastically demanded. B. inferior. C. complements. D. substitutes.
Which of the following does not contribute to a pro-business climate for investors?
A. Secure property rights. B. Minimal government regulation. C. High tax rates. D. Legalized profit.