Which of the following groups believes that the economy will move toward and achieve equilibrium at full employment without inflation if government just keeps its hands off the economy?
a. classical school
b. Keynesian school
c. neo-Keynesian school
d. rational expectations school
e. supply-side school
A
You might also like to view...
Explain why economics is considered a social science
What will be an ideal response?
Differentiate between an open and a closed economy? Do you agree that US economy is more open among the advanced industrial countries in the world?
Assume a firm in a competitive industry is producing 800 units of output, and it sells each unit for $6 . Its average total cost is $4 . Its profit is
a. -$1,600. b. $1,600. c. $3,200. d. $8,000.
Starting salaries for female OB/GYNs are higher than those of male OB/GYNs. What is the best explanation for this?
a. Female OB/GYNs have more human capital than male OB/GYNs. b. Female OB/GYNs are smarter than male OB/GYNs. c. More males are in OB/GYN residency programs than females. d. The demand for female OB/GYNs is greater than the demand for male OB/GYNs. e. The demand for female OB/GYNs is less than the demand for male OB/GYNs.