Nonactivists propose doing nothing in the face of economic hardship because ________
A) activist policies can kick in at the wrong time and be counterproductive
B) "markets self-correct pretty rapidly anyway"
C) in the face of high unemployment, activist policies would likely lead to surges in inflation
D) all of the above
E) none of the above
D
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If there is excess demand in a perfectly competitive market, does the government need to intervene to restore the equilibrium price and quantity?
What will be an ideal response?
The number of corn producers increases, so the supply of corn ________ and the supply curve of corn ________
A) increases; does not shift B) increases; shifts rightward C) decreases; shifts leftward D) increases; shifts leftward E) decrease; shifts rightward
Theory and historical experience both confirm the importance of family size in shaping poverty trends
Indicate whether the statement is true or false
Which of the following is false?
a. A resource is anything that can be used to produce anything else we value. b. Resources are costly because they have alternative uses c. Losses mean resources are not being used efficiently. d. None of the above is false; all are true.