Classical economists think that the government ________ use fiscal policy to dampen the business cycle because prices and wages adjust ________
A) should not; rapidly
B) should not; slowly
C) should; slowly
D) should; rapidly
A
You might also like to view...
If the Fed is concerned about a possible recession, it ________ the federal funds rate, which ________ the quantity of money and ________ the amount of bank loans
A) raises; decreases; decreases B) lowers; decreases; decreases C) lowers; increases; decreases D) raises; increases; increases E) lowers; increases; increases
The application of economic analysis to human resources issues is called
A) labor economics. B) human economics. C) personnel economics. D) resource economics.
Game theory tells us that in the ultimatum game:
A. the threat to reject is credible and is expected to increase the amount given. B. the threat to reject in not credible, and is not expected to increase the amount given. C. the threat to reject is credible, but is not expected to increase the amount given. D. the threat to reject in not credible, but still is expected to increase the amount given.
When the price level falls, consumers may feel wealthier and the consumption function will shift upward.
Answer the following statement true (T) or false (F)