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ivorywildebeest864Lv1

18 Aug 2020

Why is the use of theory and observation more difficult in economics than in sciences such as physics?

a. Due to the difficulty in evaluating an economic experiment
b. Due to the lack of funding for economic experiment
c. Due to the difficulty in actually performing an experiment in an economic system
d. Due to the difficulty in collecting sufficient data

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Sonia DhawanLv10

17 Sep 2020

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Recognition lags in fiscal policy stem largely from

a. the fact that it takes time before a fiscal policy, such as a change in government purchases or a change in taxes, is agreed to and put into effect.

b. the difficulty of collecting economic data in a timely and accurate fashion.

c. the fact that it takes time for a policy's action to have its full effect on aggregate demand.

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A price confusion problem is best described as what?

a. the difficulty producers have in determining whether higher prices are due to increased demand or inflation.

b.the difficulty consumers have in determining whether real prices have risen in order to decide whether they should buy more or less.

c.the difficulty that producers have in determining whether a wage increase will lead to an increase in real costs.

d.the problem consumers have in determining whether relative prices have changed when all prices are increasing, albeit at different rates.

e.the problem both consumers and producers face in interpreting consumer price index (CPI) data from the Bureau of Labor Statistics (BLS)

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How the Dismal Science Got Its Name
Click here to watch the video.LINK:

https://www.youtube.com/watch?v=KBC2Lza7Yck

"My continual aim has been to show the eternal superiority of some men to others..." This quotation can be attributed to someone who:

	1.believed in inequality and supported slavery.
	2.opposed both laissez-faire economics and slavery.
	3.supported free-market economics.
	4.preferred the "dismal" science to the "gay" science.

The essayist who called economics the 'dismal science' did so because he did not like:

	1.the constant focus in economics on opportunity costs.
	2.the prediction of economic theory that populations would eventually starve.
	3.the difficult mathematical analysis used in economics.
	4.the anti-slavery conclusions of economic theory.

The title of the work in which the phrase "dismal science" is first used is:

	1.An Essay on the Principle of Population
	2.Six Essays on The Elements Of Political Economy
	3.Occasional Discourse on the Negro Question
	4.An Inquiry into the Nature and Causes of the Wealth of Nations

Influential economist John Stuart Mill responded to Carlyle's pro-slavery writings by calling them:

	1.the work of the devil.
	2.more dismal than economics.
	3.a watershed moment in the history of free-market economics.
	4.sound economics but bad public policy.

greenyellowjacket177

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