Each of the following is one of the four dominant concepts of the rhetoric of economics except
A) the image of the circular flow of purchasing power through the economy.
B) the use of the word "market" to describe intricate and decentralized processes of exchange.
C) the idea that economic processes don't tend to move the economy into some sort of balance, and to keep . the economy at this point of balance.
D) the use of graphs and diagrams as an alternative to equations and arithmetic in expressing economic relationships.
Correct Answer:
Verified
Q4: Economists call the process of reducing the
Q5: The fact that economics developed as an
Q6: The Phillips Curve
A) describes the short-run relationship
Q7: According to the Phillips Curve, in the
Q8: According to the Phillips Curve, in the
Q10: Each of the following is one of
Q11: Each of the following is one of
Q12: Each of the following is one of
Q13: The simplified version of the circular flow
Q14: The simplified circular flow diagram links
A) households
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