A Keynesian model is one in which prices are sticky:
a. in the short run only.
b. in the short run and in the long run.
c. in the long run only.
d. so that they never depend on the money supply.
Ans: a. in the short run only.
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If the value of an environmental benefit realized two years from todayis $970.20, and the annual rate of return is 5 percent, then its present discounted value is
a. $924 b. $880 c. $1,018.71 d. $1069.65
The cookie industry in Eatsweetland consists of 15 firms. The industry sales are $80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of $3 million each. The U.S
Department of Justice would classify the market for cookies in Eatsweetland as A) competitive. B) uncompetitive. C) moderately competitive. D) monopolistic.
Which of the following markets are closest to perfectly competitive
a. The market for smart phones b. The market for generic pharmaceuticals c. The market for sport shoes d. The market for fast food
In the four-sector circular flow model, households will use their incomes to do all but which one of the following?
a. Save. b. Pay taxes. c. Buy domestic goods and services. d. Buy imported goods and services. e. Invest.