A. monetarists.
B. keynesians
C. post-keynesians
D. new classical school
Related Mcqs:
- A group of modern economists who believe that markets clear very rapidly and that expanding the money supply will always increase prices rather than employment are the ?
A. Keynesians
B. post-keynesians
C. monetarists
D. new classical school - If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?
A. Vertical or nearly vertical
B. upward sloping
C. downward sloping
D. horizontal or nearly horizontal - When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?
A. Cost push theory
B. Supply and Demand theory
C. Fundamental theory
D. Ricardo’s theory - Engineers for the All-Terrain Bike Company have determined that a 15% increase in all inputs will cause a 15% increase in output Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases?
A. average costs to remain constant
B. average costs to decrease
C. average costs to increase
D. marginal costs to increase - Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?
A. None of these answers
B. Disagree because they have different scientific judgments
C. really don’t disagree at all. It just appears that they disagree
D. disagree because they have different values - A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work, save and invest. These economists are?
A. Supply-side economics
B. neo-Keynesian economists
C. rational-expectations economists.
D. new classical economists. - A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work save and invest these economists are ?
A. supply side economists
B. neo-Keynesian economists
C. rational -expectations economists
D. New classical economists - Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the long run ?
A. Output falls; prices are unchanged from the initial value
B. Price fall; output is unchanged from its initial value
C. Output and the price level are unchanged from their initial values
D. Prices rise; output is unchanged from its initial value - Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ?
A. Price fall; output rises
B. Price fall; output falls
C. Price rise; output fall
D. Price rise; output rise - When economists use the term real business cycle theory they are suggesting that business cycles are caused by ?
A. Shifts in aggregate supply
B. changes in export demand due to the state of the world economy
C. business confidence
D. business expectations
