Which of the following groups believes that the economy will move toward and achieve equilibrium at full employment without inflation if government just keeps its hands off the economy?

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

A

Economics

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Autarkia imports oil and natural gas and exports food grains to the rest of the world. Based on this information, we can conclude that Autarkia is a(n) ________ economy

A) closed B) command C) open D) communist

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A firm will shut down in the short-run if

a. P>AVC b. P

Economics