An Encomium . .

question 17

Multiple Choice

An encomium . . .

• A) is a rhetorical style.
• B) employs elements of praise.
• C) Both a and b
• D) None of the above

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Definitions:

Milton Friedman

An American economist and Nobel Prize laureate known for his research in consumption analysis, monetary history and theory, and his advocacy of free-market capitalism.

Rational Expectations

The hypothesis that individuals form forecasts about the future based on all available information in an unbiased and consistent manner.

Self-Correction Mechanism

The market's ability to adjust back to equilibrium without intervention, often used in the context of economic cycles.

Supply-Side Economists

Economists who advocate for policies that increase production as the best way to foster economic growth, emphasizing the role of supply in driving economic outcomes.