Use the drop-down menus to complete each sentence. Hayek is best known for his contribution to the understanding of . Hayek disagreed with Keynes about expansionary policy because it could cause and influence consumer decisions. Unlike Keynes, Hayek believed that consumer actions be accurately displayed on a supply and demand curve.

-price changes

-inflation, negatively

-could not

Explanation: Completing the sentence, we have ;

Hayek is best known for his contribution to the understanding of  Price Changes . Hayek disagreed with Keynes about expansionary policy because it could cause inflation  and negatively  influence consumer decisions. Unlike Keynes, Hayek believed that consumer actions could not be accurately displayed on a supply and demand curve.

John Maynard Keynes and F.A. Hayek are two of the most controversial economic who made great contributions in the field of economics. In as much as they contributed great value to the economy system, they both had different thoughts in this regard, while  Hayek says that government should not intervene to help market system, Keynes proposes on governments  intervention  to ease recession.

Hayek is best known for his contribution to the understanding of  

price changes.

Hayek disagreed with Keynes about expansionary policy because it could cause  inflation  and negatively  influence consumer decisions.

Unlike Keynes, Hayek believed that consumer actions could not be accurately displayed on a supply and demand curve.

false, if this is a t or f question.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.