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Application of Economics

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 ?

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

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 ? Read More »

Application of Economics, Economics Mcqs

Which of the following will not shift a country’s production possibilities frontier outward ?

Which of the following will not shift a country’s production possibilities frontier outward ?

A. an advance in technology
B. an increase in the labor force
C. an increase in the capital stock
D. a reduction in unemployment

Which of the following will not shift a country’s production possibilities frontier outward ? Read More »

Application of Economics, Economics Mcqs

Which of the following statements about microeconomics and macroeconomics is not true ?

Which of the following statements about microeconomics and macroeconomics is not true ?

A. The study of very large industries is a topic within macroeconomics
B. Macroeconomics is concerned with economy-wide phenomena
C. Microeconomics is a building block for macroeconomics
D. Microeconomics and macroeconomics cannot be entirely separated

Which of the following statements about microeconomics and macroeconomics is not true ? Read More »

Application of Economics, Economics Mcqs

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

A. really don’t disagree at all It just appears that they disagree.
B. disagree because they have different values.
C. none of these answers.
D. disagree because they have different scientific judgments.

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ? Read More »

Application of Economics, Economics Mcqs

In making which of the following statements is an economist acting more like a scientist ?

In making which of the following statements is an economist acting more like a scientist ?

A. A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.
B. The rate of inflation should be reduced because it robs the elderly of their savings.
C. The unemployment rate should be reduced because unemployment robs individuals of their dignity.
D. The state should increase subsidies to universities because the future of our country depends on education.

In making which of the following statements is an economist acting more like a scientist ? Read More »

Application of Economics, Economics Mcqs