Policy-oriented economists seek to develop theories to
A. explain how things work, so policies can be formulated.
B. describe what happened in a particular time period in history.
C. describe current economic events.
D. find correlations between events.
E. change people’s values and ethics.
Answer: A
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The following table depicts the cost and demand structure a natural monopoly faces. Provided that the firm operates as a monopolist, what is the price charged and quantity produced in order to maximize profits?
A) price charged of $900 and quantity produced of 1 B) price charged of $800 and quantity produced of 2 C) price charged of $700 and quantity produced of 3 D) price charged of $600 and quantity produced of 4
The Beard-Hacker Thesis claims that post-bellum economic growth in the United States:
a. was slowed by rapid immigration. b. was accelerated by rapid immigration from English speaking countries. c. was slowed by the formation of industrial monopolies. d. was accelerated by economic and financial changes generated by the Civil War.
If the US interest rate is 4% per year and the Mexico interest rate is 9% per year, which of the following is true:
a. The dollar will depreciate 5% in one year. b. The peso will appreciate 9% in one year. c. The peso will depreciate 5% in one year. d. The dollar will appreciate 9% in one year.
In the aggregate demand and aggregate supply model,
a. the factors that cause the demand curves in both models to slope downward are the same b. the factors that cause the supply curves in both models to slope upward are the same c. the upward-sloping aggregate demand curve intersects the downward-sloping aggregate supply curve to determine the economy's price level and GDP d. the upward-sloping aggregate supply curve intersects the downward-sloping aggregate demand curve to determine the economy's price level and GDP e. the price level never changes even with shifts in aggregate demand and aggregate supply