Which of the following is NOT associated with the new Keynesian economics?
A. policy irrelevance proposition
B. inflation dynamics
C. sticky-price theories of real GDP determination
D. small-menu cost theory
Answer: A
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When did the European Union become a common market?
What will be an ideal response?
Suppose that steel produced this year is used to produce a car sold next year. The value of the steel ________ included in GDP this year as ________
A) is; an intermediate good B) is not; an intermediate good C) is; an adjustment to inventories D) is not; an adjustment to inventories
The antitrust legislation that made it illegal for a firm to buy a competitor's patents, plant, and equipment was the
a. Sherman Antitrust Act b. Cellar-Kefauver Act c. Robinson-Patman Act d. Clayton Act e. FTC Act
Use the following figure to answer the next question.
If the firm is producing at Q1, the area 0BEQ1 represents the
A. total variable cost. B. total cost. C. average variable cost. D. total fixed cost.