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Author Question: Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really ... (Read 465 times)

michelleunicorn

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on: Jun 29, 2018
Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really needed changing, market forces would have already caused it to happen. This joke represents the view of
 
  A) classical economists.
  B) Keynesian economists.
  C) economists who conclude that money illusion is widespread.
  D) economists who conclude that wages and prices are inflexible.

Question 2

Which of the following would cause a change in the quantity demanded of a product?
 
  A) a higher price
  B) a higher income
  C) expectations of future price increases
  D) All of the above are correct.


mmj22343

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


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