Many business cycle theories are associated, by name, with individual economists who championed the ideas. For example, the housing cycle is also known as the
a. Schumpeter cycle
b. Keynesian cycle
c. Marxist cycle
d. Kuznets cycle
e. Jevons cycle
D
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If the net public debt remains unchanged during a given period, but the gross public debt increases, then which of the following statements must be correct?
A) Government interagency borrowing must have decreased during the period. B) Foreign ownership of U.S. Treasury securities must have fallen during the period. C) Government interagency borrowing must have increased during the period. D) Foreign ownership of U.S. Treasury securities must have risen during the period.
The key disadvantage of the kinked-demand model is that it:
A) explains why firms may collude, but it does not explain how they interact. B) does not explain why prices may be rigid in an oligopoly. C) requires the assumptions of perfect competition. D) only holds under price leadership.
Which of the following is the best example of an intermediate good?
A. A new highway B. The commission that goes to a real estate agent C. Wax purchased by a candle company D. Wheat sold to a foreign country
Refer to the graphs shown. Higher costs of production combined with an expectation on the part of consumers of higher prices in the future would result in the shifts depicted in:
A. a. B. b. C. c. D. d.