Which of the following is NOT a key principle of economics?
A) Optimization
B) Equilibrium
C) Empiricism
D) Substitution
D
Economics
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Nominal GDP is $12.1 trillion and real GDP is $11.0 trillion. The GDP price index is
A) 90.1. B) 121. C) 1.10. D) 91.0. E) 110.
Economics
The theory of liquidity preference postulates that the demand for real money balances, plotted against the interest rate, is:
a. vertical. b. downward sloping. c. horizontal. d. upward sloping.
Economics