Multiple Choice
Adam Smith's Wealth of Nations emphasized
A) that Scotland produced several key technological innovations.
B) how free markets produce socially efficient outcomes.
C) mercantilism.
D) that the government should intervene to smooth business cycles.
E) the existence of externalities.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: According to real business cycle theory, the
Q48: The Fisher relation is<br>A)the negative relationship between
Q49: In a competitive equilibrium, we assume that
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Q51: Macroeconomists tend to agree on<br>A)that all business
Q53: Unemployment, at the aggregate level<br>A)is avoidable.<br>B)is zero
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Q56: The relationship between the level of
Q57: Which of the following topics is a