An important feature of the internally generated business cycle theory is the role that
a. expectations play in determining levels of investment
b. fiscal policy plays in stimulating investment
c. changes in interest rates play in determining levels of investment
d. technology plays in determining levels of investment
e. innovations play in determining levels of investment
A
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Stefano has just completed an original oil painting. After considering the costs for brushes, paint, canvas, and the value of Stefano's labor time, the marginal cost of the painting is $1,000. Lucky Stefano. One art lover paid him $1,500
How much producer surplus did Stefano obtain? A) The amount of producer surplus cannot be determined from the information given. B) $1,500 C) $1,000 D) $500
In the above figure, what would result if the price was $40?
A) a surplus B) a shortage C) equilibrium D) excess demand
The tool most often used by the Fed to control the money supply is
a. changing reserve requirements. b. open market operations. c. buying and selling of equities. d. altering the discount rate.
In agriculture during much of the 20th century, supply grew more than demand. Which two farm problems are these?
A) the high-productivity problem and the income elasticity problem B) the low-productivity problem and the income inelasticity problem C) the high-productivity problem and the income inelasticity problem D) the low-productivity problem and the income elasticity problem E) none of the above