Classical macroeconomists think that supply shocks are ________ than demand shocks and that government intervention in the economy is ________.
A. less important; usually unwarranted
B. less important; often vital
C. more important; usually unwarranted
D. more important; often vital
Answer: C
Economics
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Economics is a:
A) social science that studies goods with no alternative uses. B) natural science that studies goods with no alternative uses. C) social science concerned chiefly with how people choose among alternatives. D) social science concerned chiefly with reasons why society has unlimited resources
Economics
Refer to Figure 13-1. Ceteris paribus, a decrease in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Economics