The school of thought that emphasizes the natural tendency for an economy to move toward equilibrium full employment without inflation is the
a. Keynesian school
b. supply-side school
c. noninterventionist school
d. rational expectations school
e. classical school
E
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Recently, Skooterville has experienced a large growth in population. As a result, the demand curve for telephone service in Skooterville:
A) has shifted to the right. B) has shifted to the left. C) has shifted down. D) Both B and C are correct. E) none of the above
A market in which businesses, households, and governments buy and sell national currencies is
A) the foreign exchange market. B) the currency exchange market. C) the money exchange market. D) the dollar exchange market.
Given that India and Sri Lanka are trading partners, if Sri Lanka experiences a recession, the aggregate demand curve of India will shift to the right
a. True b. False Indicate whether the statement is true or false
The difference between what you pay for some good or service and what you would have been willing to pay is called ________________________.
Fill in the blank(s) with the appropriate word(s).