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After the fall of the economy in 1929, what did classical economists believe to be the solution to the Great Depression?
wait for the economy to achieve equilibrium
What do economists look at to measure a nation's overall performance in the global economy?
i believe its balance of trade
What do most economists believe is the most efficient way to allocate resources in an economy?
Most economists believe that the most efficient way to allocate resources in an economy is through a market-based system, where prices are determined by supply and demand forces. This allows resources to flow to where they are most valued and needed, leading to optimal allocation and efficiency.
What are people who developed ideas that explained how the economy known as?
Such people are generally known as Economists. There are many varieties of economists, like Neo-Classical, Keynesian, Marxist, Mercantilist, Physiocratic, etc.People who develop ideas that explain how an economy works are called economists.
Do economists predict future changes in the economy?
yes!
What do most economists believe about the future of the business cycles?
Most economists believe the future of business cycles will continue to ebb and flow. They believe business cycles will continue to drive the economy.
After the fall of the economy in 1929, what did classical economists believe to be the solution to the Great Depression?
wait for the economy to achieve equilibrium
What do economists look at to measure a nation's overall performance in the global economy?
i believe its balance of trade
Economists generally assume that?
Economists generally assume that the economy will behave in an understandable way.
What do most economists believe is the most efficient way to allocate resources in an economy?
Most economists believe that the most efficient way to allocate resources in an economy is through a market-based system, where prices are determined by supply and demand forces. This allows resources to flow to where they are most valued and needed, leading to optimal allocation and efficiency.
What are people who develop ideas that explain how the economy works known as?
Such people are generally known as Economists. There are many varieties of economists, like Neo-Classical, Keynesian, Marxist, Mercantilist, Physiocratic, etc.People who develop ideas that explain how an economy works are called economists.
What are people who developed ideas that explained how the economy known as?
Such people are generally known as Economists. There are many varieties of economists, like Neo-Classical, Keynesian, Marxist, Mercantilist, Physiocratic, etc.People who develop ideas that explain how an economy works are called economists.
Do economists predict future changes in the economy?
yes!
What are people who developed ideas explained how the economy worked known as?
Such people are generally known as Economists. There are many varieties of economists, like Neo-Classical, Keynesian, Marxist, Mercantilist, Physiocratic, etc.People who develop ideas that explain how an economy works are called economists.
What do economists use to determine if an economy is healthy or if it is in a recession or depression?
GDP
Why do economists describe the us economy as a mixed market economy?
Citizens have economic freedoms with some government regulation
Economists associate Adam Smith with a?
Adam Smith is associated with a market economy.
