There is greater support for active policymaking when
A) price flexibility is common. B) wage flexibility is common.
C) pure competition is widespread. D) none of the above.
D
Economics
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An economic hypothesis: a. can be tested using empirical analysis
b. can be tested using normative analysis. c. cannot be tested since it is normative in nature. d. cannot be tested since it is a positive economic statement.
Economics
The automatic adjustment mechanism that makes the economy move towards the long-run Phillips Curve is:
A. Expansionary fiscal or monetary policy B. Inflation expectations and wage adjustments C. Contractionary fiscal or monetary policy D. Increases in productivity over time
Economics