Who was one of the first proponents of employing market economies instead of command economies?
a. Robert Heilbroner. b. Karl Marx.
c. Jeffrey Sachs. d. Adam Smith.
Question 2
The spending multiplier indicates that:
a. changes in investment, government, or consumption spending trigger much larger changes in real GDP.
b. an autonomous increase in saving will cause output to rise by a multiple of the additional saving.
c. a market economy will be more stable than classical economists thought.
d. the marginal propensity to consume is greater than one.
This Labrador Retriever has been trained to woof and bark on command.
This engraving of the Boston Massacre (1770) became the most reprinted depiction of the event, and p
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Post-Communist Economies
Reconstruction Drawing of Trajan's Market
Main Hall, Trajan's Market