The maximin criterion is the idea that the government should aim to maximize the well-being of the worst-off person in society

Refer to Table 20-12. Consider a simple economy that produces only three products: burritos, flashlights, and golf balls. Use the information in the table to calculate the inflation rate for 2016, as measured by the consumer price index

What will be an ideal response?

If you believe that the economy can achieve full employment without inflation through tax reductions, spending cuts, and deregulation, you are a member in good standing in the

a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school