Which of the following models depicts the role of money as affecting only the price level in the short run?
a. The new classical model
b. The Keynesian model
c. The real business cycle model
d. The monetarist model
C
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As more people in a country started hoarding grains in fear of a shortage, a shortage actually occurred. This is an example of a(n) ________
A) positive externality B) information cascade C) moral hazard D) adverse selection
Refer to Figure 11-4. The movement from A to B to C illustrates
A) diminishing returns to labor. B) an improvement in technology. C) a decline in capital per worker. D) diminishing returns to capital.
With regard to the characteristics of production indifference curves, which of the following statements is/are NOT true?
A. Higher curves correspond to larger outputs. B. An indifference curve will generally have a negative slope. C. An indifference curve is typically assumed to curve inward toward the origin near its middle. D. All of the responses are true for production indifference curves.
A checkable account
A) is a very illiquid asset. B) is one on which the holder can write checks. C) must be traded on the stock exchange. D) cannot serve as a store of value.