Milton Friedman's macroeconomic theory and political philosophy have the relationship one would expect. He is a
A. Keynesian and a political liberal.
B. new classical macroeconomist and a political liberal.
C. monetarist and a political conservative.
D. supply-sider and a political conservative.
C. monetarist and a political conservative.
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Which one of the following statements is false?
a. Technological progress will lower the price of transferable pollution permits b. Under a pollution tax, technological progress will reduce overall pollution levels c. Under a system of transferable permits, technological progress will reduce overall pollution levels d. A pollution tax creates an incentive for technological progress e. Under a system of transferable permits, technological progress can result in some firms increasing their pollution levels
Which of the following is held constant along an indifference curve?
A) the prices of the goods in question B) the total utility derived from consuming any bundle of goods on the indifference curve C) the marginal rate of substitution between the two goods in question D) the marginal utility derived from consuming any bundle of goods on the indifference curve