_____ believe that a government that takes an active role in the economy may do more harm than good because economic policy operates with a long and variable lag
a. Traditional Keynesians
b. Keynesians
c. Monetarists
d. Classical economists
e. New classical economists
c
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The developing countries have been catching up to the lower-income industrial countries in terms of economic growth
Indicate whether the statement is true or false
The two flows, or things being exchanged, in the circular flow model are:
A. land and labor. B. inputs and outputs. C. imports and exports. D. inputs/outputs and money.
You cause an automobile liability insurance company to face a moral hazard problem when you take ________ driving precautions ________ you buy automobile liability insurance from the company.
A. fewer; before B. fewer; after C. more; after D. the same; before and after
A game in economics is defined as
A) something that is shown on ESPN. B) competition in which strategic decision making is integral. C) competition in general. D) an actual strategy chosen by one or more economic agents.