Economics: Friedman argued that inflation is caused by: a) Excessive government spending b) Supply shocks in the economy c) Increases in the money supply that exceed the growth of real output d) Wage and price rigidities According to Friedman, what is the role of government in education? a) To provide universal access to education

Economics: Friedman argued that inflation is caused by: a) Excessive government spending b) Supply shocks in the economy c) Increases in the money supply that exceed the growth of real output d) Wage and price rigidities According to Friedman, what is the role of government in education? a) To provide universal access to education

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterD: The Expenditure-output Model

Section: Chapter Questions

Problem 25CTQ: Exercise D25 What role does government play in stabilizing the economy and what are the tradeoffs...

See similar textbooks

Similar questions

ASAP Consider an income guarantee program with an income guarantess of $6000 and a benefit reductions rate of %50. A person can work up to 2000 hours per year $8 per hour. a. Draw the person’s budget constraint with the income guarantee. b. Suppose that the income gurantee rises to $9000 but with a 75% reduction rate. Draw the new budget constraint. c. Which of these two income guarantee programs is more likely to discourage Work? Explain.
When we talk about Hayek as an economist, how should we value his ideas and theories? Are his and his followers' theories really be like: no government intervention and totally economic freedom? How could this be feasible? If not, what are the values of his ideas to the current world? Thx
evrolet 2020 Ford Mustang Why was the car on the right more affordable in 2020, for an average household, than the car on the left in 1950? OA Price controls by the federal government. OB Economic growth OC. The car on the left has many things that the car on the right does not have (e.g., air conditioning, power steering, power brakes, automatic transmission, power windows, independent front wheel suspension, computerized systems monitoring, satellite radio, and white wall tires) OD There were fewer automobile firms in 1950, and therefore less competition which gave the firms "pricing power."
Suppose that all social programs simultaneously become more generous. In particular suppose thatthere is an increase in UI benefits of $500, and also an increase in welfare benefits of $500, whichare represented in the two-sided search model as payments to everyone who is not in the labor force.What will be the effects on• the unemployment rate, U ,• the vacancy rate, v,• the labor force, Q,• the number of firms, A,• aggregate output, Y , and• labor market tightness, j ≡ A/Q?
2. Which of these is NOT a factor in determining dass in America? O A. Education B. Occupation C. Income D. Number of children
Afric-125 Economics of Black Community 4. Figure 1 shows poverty rates among racialized/ethnic groups in the USA from the mid 20 century to the present 21st century. If the market eliminates all discriminatory practices as the neoclassical theory predicts, why do we still observe the huge poverty rate gap between black Americans and the non-Hispanic white Americans? In other words, explain why discrimination persists? Make sure that your analysis is succinctly clear and comprehensive.
Government spending on health care has been A) shrinking as a share of government spending. B) rising as a share of government spending. C) rising and falling from year to year as various illnesses hit the population.D) falling then rising as a share of government spending. E) steady as a share of government spending. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
To increase the price level the government could Select one: a. decrease government spending and encourage technological advancement. O b. increase government spending and discourage technological advancement. c. increase government spending and encourage immigration. d. decrease government spending and discourage immigration.
TRUE/FALSE We argued that the tax revenue that the federal government collects ispro-cyclical, that is, when economic activity is growing so is tax revenue. An example of this is the new economy when tax revenue increased along with the economic growth.
Describe Weber’s Protestant ethic. Explain why Marxcould not have endorsed the relationship between theProtestant ethic and the spirit of capitalism proposed byWebe
8. Consider the OLG model with capital. Each individual is endowed with y units of the consumption good when young and with nothing when old. Let N be the number of individuals in each generation. Suppose there is one asset available in the economy capital. A unit of capital can be created from a unit of the consumption good in any period t and capital can be created in any amount. One period after it is created, a unit of capital produces X units of the consumption good and then disintegrates. Assume that each initial old can produce Xko units of the consumption good in the first period. Now suppose that an individual's preference is given by U (C₁, C₂) = (C₁) ¹ (C₂) ¹. We focus on stationary allocations. (a) Write down the budget constraints faced by an individual when young and old. Combine the budget constraints to find the lifetime budget constraint for an individual (b) Solve for the optimal allocation of (c, c) for all future generations. What the optimal k* ? Now suppose an…
8. Consider the OLG model with capital. Each individual is endowed with y units of the consumption good when young and with nothing when old. Let N be the number of individuals in each generation. Suppose there is one asset available in the economy capital. A unit of capital can be created from a unit of the consumption good in any period t and capital can be created in any amount. One period after it is created, a unit of capital produces X units of the consumption good and then disintegrates. Assume that each initial old can produce Xko units of the consumption good in the first period. Now suppose that an individual's preference is given by U (C₁, C₂) = (C₁) (c₂) } . We focus on stationary allocations. (a) Write down the budget constraints faced by an individual when young and old. Combine the budget constraints to find the lifetime budget constraint for an individual (b) Solve for the optimal allocation of (c₁, c₂) for all future generations. What is the optimal k* ? Now suppose an…