Models must
A) be able to yield useable predictions.
B) be totally realistic in every detail.
C) be a complete reproduction of the real world.
D) include every relationship that exists.
A
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According to your textbook, markets tend to "clear" due to
A) the use of threat and coercion. B) the competitive bidding process. C) the intervention of expert economists. D) a well-managed national economic plan.
A type of investment fund that makes long-term investments in companies that are not publicly traded is called a
A) private equity fund. B) hedge fund. C) sovereign wealth fund. D) brokerage fund.
The "Great Society" initiative led to the creation of
a. Medicare. b. Rent subsidies for the poor. c. the Department of Transportation. d. the Department of Housing and Urban Development. e. All of the above.
When an increase in government purchases causes firms to purchase additional plant and equipment, we have seen a demonstration of
A. the multiplier effect. B. supply-side economics. C. the crowding-out effect. D. the investment accelerator. E. none of these answers.