Theories should be judged based upon how
A) well they explain things.
B) consistently and accurately they predict.
C) famous the economist is making the prediction.
D) the amount of attention given to them by the media.
E) a and b
E
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Which geographic coincidence affected gasoline prices the most during 2005?
A. A tsunami hit the one area in the world most responsible for producing U.S. gasoline, Indonesia. B. Two major hurricanes affected the refining intensive areas of New Orleans and Houston. C. An earthquake happened to hit the energy-sensitive areas in and around Iran. D. There were tornado related electrical outages in the industrial Midwest.
It is highly unlikely that environmental standards are set at an efficient abatement level because of
a. legislative constraints b. the absence of full information about the MSB and MSC of abatement c. differences in MSB and MSC levels at the regional level d. all of the above
How does an open market operation change the monetary base?
What will be an ideal response?
In a simple Keynesian model, a decrease in income leads to a decrease in
A) consumption. B) investment. C) the price level. D) the money supply.