The careful historian, in studying an institution like slavery and in striving for objectivity, will give special attention to all of the following except
(a) Those processes which recur over time and which continually motivated the institution
(b) A theory which provides understanding of the cause-and-effect relationships involved
(c) The background conditions of the period
(d) All of the above statements must be given special attention
(d)
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The real business cycle theory holds that business fluctuations are caused by
A. "stop-and-go" monetary policies. B. factors affecting aggregate demand. C. significant changes in technology and resource availability. D. incorrectly anticipated government stabilization policies.
Price discrimination
A) eliminates the producer surplus. B) turns consumer surplus into producer surplus. C) decreases output below the profit-maximizing level. D) lowers a monopoly's economic profit.
Observers of the economy often complain that indicators of economic activity are often contradictory. This is an example of the ________ lag
A) data B) recognition C) legislative D) effectiveness
A scatter diagram is a way to show the relationship between disposable income and consumer expenditures.
Answer the following statement true (T) or false (F)