When did professionals first recognize the existence of the business cycle?
2. Describe Alston's beard.
3. What did Say's law declare?
4. It
was feared that if government intervened purchased greater amounts of
goods and services to
stimulate production in a lagging economy
what would
happen?
5.
A
B.
Say admitted two deficiencies in his theory
6. Dos Schumacher's coat fit?
Compare Marx's beard to Alston's.
7. Marx raised
to the greatest level of all dignity.
8. Marx was the first economist to conceive of a self-generated economic cycle
in
which
and
produced
9. Chumpeter preached that capitalism
was intrinsically
Schunge te.
10. On what did Marx and
disagree?
Schempeter
11. Name one of
students.
12.
Who
was once known as
the
world's greatest humanitarian? Explain
13. Was Hoover the villain in 1929?
Relate your answer to the role of
govemment in the economy and
laissez-faire.
14. In England, John Maynard
of a depression was to create
claimed that the way to get out
15. What was so different about the way Keynes viewed the economy?
What
might happen when demand collapsed?
16. Today we know that the economy does not: