Economists are often perceived as disagreeing with each other. Is this the way things really are?
a. No, economists agree on much more than is commonly supposed.
b. No, the problem is that some economists are smarter than others.
c. No, economists "stage" disagreements for public amusement.
d. Yes, economists rarely agree on much of anything.
e. Yes, economists are unable to analyze problems dispassionately.
a
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One of the reasons for the growth performance of free-market economies is firms’ use of innovation to compete with one another.
Answer the following statement true (T) or false (F)
Recall the Application. One difference between a value-added tax and an income tax is the value-added tax
A) is a progressive tax. B) is not a consumption tax. C) does not penalize individuals who save. D) is difficult to collect.
If real GDP and aggregate expenditure are greater than equilibrium expenditure, what happens to firms' inventories? How do firms change their production? And what happens to real GDP?
What will be an ideal response?
The efficient market hypothesis would lead to the conclusion that
A. people who win big in the stock market are more lucky than smart. B. only the highly skilled investors should put their money into the stock market. C. people who win big in the stock market are usually very good investors. D. markets are not good anticipators of events that affect stock value.