Elimination of government regulations undertaken explicitly to influence the aggregate supply curve would be an example of
A. demand-side economics.
B. supply-side economics.
C. Keynesian economics.
D. classical economics.
Answer: B
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Paternalism is the view that ________
A) consumers do not always know what is best for them, and the government should encourage or induce them to change their actions B) producers do not always have the resources required for the production of a good, and the government should provide them with these resources C) the government should impose a tax on an economic activity only if it generates a negative externality D) the government has the supreme power to decide which goods are to be taxed and which are to be subsidized
What is meant by the demographic transition? What are the differences in the demographic transition between the current developed economies and developing countries?
What will be an ideal response?
All of the following are advantages of a corporation EXCEPT
A. unlimited life. B. limited liability. C. double taxation. D. ability to raise large sums of financial capital.
The aggregate demand curve:
A. is upsloping because a higher price level is necessary to make production profitable as production costs rise. B. is downsloping because production costs decline as real output increases. C. shows the amount of expenditures required to induce the production of each possible level of real output. D. shows the amount of real output that will be purchased at each possible price level.