To isolate the impact of one single factor, economists invoke the assumption of
A. Ockham's razor.
B. post hoc, ergo propter hoc.
C. inductive reasoning.
D. ceteris paribus.
Answer: D
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Name two policies that a Keynesian economist would advocate to influence the level of GDP in the short run
What will be an ideal response?
The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. Which of the following would result in the quantity of coffee in Kaffenia differing from the efficient quantity?
A) The existence of a single producer and seller of coffee. B) The existence of many producers and sellers of coffee. C) Damage to the environment from fumes emitted by coffee beans. D) Both answers A and C are correct.
Refer to the graph shown. What level of output should the perfectly competitive firm produce to maximize profits?
A. 6. B. 4. C. 7. D. 8.
Economists feared that any attempt to ________ without first ________ would have been ineffective at best and dangerous at worst.
A. lower interest rates; curtailing inflation B. stimulate aggregate demand; addressing the lack of supply C. address the lack of supply; stimulating aggregate demand D. curtail inflation; lowering interest rates