Author Question: Which of the following events challenged Keynesian views, and led to the popularity of Milton ... (Read 51 times)

D2AR0N · **on:** Jun 30, 2018

Which of the following events challenged Keynesian views, and led to the popularity of Milton Friedman's ideas?
a. The hippie community started advocating socialist values.
b. Hard-core republicans came into office.
c. The U.S. economy faced high levels of inflation and unemployment simultaneously.
d. The oil crisis exploded.
e. Countries that followed Friedman's ideas performed better.

Question 2

The price elasticity of demand for tickets to local hockey matches is estimated to be equal to 0.89 . In order to boost ticket revenues, an economist would advise:
a. decreasing the price of hockey match tickets because demand is elastic.
b. increasing the price of hockey match tickets because demand is elastic.
c. not changing the price of hockey match tickets because demand is unit elastic.
d. increasing the price of hockey match tickets because demand is inelastic.