The consensus view
A. Incorporates only the monetarist perspective.
B. Incorporates only the Keynesian perspective.
C. Incorporates both the Keynesian and monetarist perspective.
D. Ignores both the Keynesian and monetarist perspective.
Answer: C
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The market supply curve shows the
A) minimum price suppliers must receive in order to produce another unit of the good. B) maximum price suppliers must receive in order to produce another unit of the good. C) amount of producer surplus suppliers receive. D) profit that suppliers receive from producing another unit of the good.
Since the Social Security benefits of retirees are a function of the taxes paid by others, it is easy to predict that _____
a. older voters are likely to vote against higher taxes in exchange for higher benefits b. older voters are likely to vote for higher taxes in exchange for higher benefits c. older voters will be indifferent between higher taxes and higher benefits d. older voters will generally not get what they want