Keynesian economists, like classical economists, believed that prices and wages were flexible in both directions

Indicate whether the statement is true or false


F

Economics

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Who won a Nobel Prize in economics for his work in the development of game theory?

A) John Nash B) Oskar Morgenstern C) Howard Schultz D) John von Neuman

Economics

Which of the following is true of the life-expectancy rates observed across the world economies in 2007?

a. Life expectancy at birth averaged 72 years in sub-Saharan Africa. b. Life expectancy at birth averaged 80 years in high-income economies. c. Life expectancy at birth averaged 52 years in middle-income economies. d. Life expectancy at birth averaged 69 years in all low-income economies.

Economics

Which of the following is the correct formula for the marginal propensity to consume?

A. MPC = 1 ÷ (1 - MP B. MPC = (total consumption) ÷ (total disposable income). C. MPC = 1 - MPS. D. MPC = (change in consumption) + (change in disposable income).

Economics

The prime rate is the interest rate charged to a bank's best customers

a. true b. false

Economics