The two most comprehensive, widely accepted macroeconomic models are
A. the Austrian model and the Keynesian model.
B. the supply-side model and the real business cycle model.
C. the classical model and the Keynesian model.
D. the classical model and the supply-side model.
Answer: C
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The cost of holding money is
A) transactions accounts. B) the opportunity cost. C) the liquidity approach. D) capital controls.
"Antebellum transportation improvements encouraged the South to specialize in cotton, while depending on the West for food and the Northeast for manufactured goods.". This statement
a. describes Rostow's stages of growth model. b. describes North's interregional growth hypothesis. c. describes Thomas Jefferson's vision of the US economy. d. is supported by most contemporary economic historians.
When Toyota introduced the new Prius in the United States, which of the following occurred?
A The hybrid car was not as successful as expected. B The costs of manufacturing were too high and Toyota had to stop production. D All of the above C Toyota confronted the risk of making large investments and the uncertainly over future oil prices.
In order for good X to be a likely candidate for offshoring, it must be produced with ______________ labor intensity and be a relatively ________________ good
A) low; light B) low; heavy C) high; heavy D) high; light