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☆☆☆☆☆Cards in this guide (15)
In socialism but not in communism the government plays a strong role
False! false
What type of economic system was developed by Marx
socialist
At the time of World War 2 this economist spoke against laissez-faire arguing that government is necessary to address the problem of economic inequality
Pigou
Many people criticized Keynes because his economic policy did what
It was designed for the short term
The leaders of the communist revolution allowed some elements of capitalism into the Russian economy between 1921 and 1928
true
In his economic system smith believed that basic economic questions were answered by which group
market
aPLUS
What type of view of economics did the rational expectation school of economics headed by lucas and sargent take
macroeconomic
What do the inner arrows of the circular flow model represent
flow of money payments(Kaylop)
Factor services ( From household to firms) &
Goods & Services (From firms to households).
[in a 2 sector economy)
Marshal combined the idea of the marginalists and the classical capitalists to form which new theory
price
The effect of the cutting of the old-growth forests on the ancient cultures and traditions of the people
athropologist
Many people criticized keynes because his eonmomic policy did what
Many people criticized Keynes because his economic policy did what?
In the circular flow model economic resources is both production and the factors of production
true
true
What are the differences between facility and utility
Facility often refers to a location while Utility often refers to an object/goods/services
Which of these answers best describes the Karl Marx's view of history
a struggle of classes:)
Which group would be concerned with pollution of the river after cutting of the old forest
Environmentalists.
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