Which of the following explanations of the business cycle focuses on both aggregate supply and aggregate demand shifts?
A. Monetarist explanations
B. Keynesian explanations
C. Supply-side explanations
D. Eclectic explanations
D. Eclectic explanations
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When you hire a company to paint your house, you cannot be sure of the quality of paint that was used. This situation is an example of
a. moral hazard. b. the adverse selection problem. c. the market for lemons. d. the principal-agent problem.
Explain how the short-run and long-run Phillips curves are related
What will be an ideal response?
During the financial crisis of 2007-09, the prices of U.S. Treasury securities
A) rose and the price of corporate bonds declined. B) fell relative to the prices of corporate bonds. C) remained in the same relative position to the prices of corporate bonds. D) were frozen by order of the federal government.
Suppose Tim has $1,000 in cash on hand to buy collectable baseball cards at a swap meet. Tim often sells these cards at a profit. This is an example of the
A. asset demand for money. B. precautionary demand for money. C. wealth demand for money. D. transaction demand for money