What is the purpose of advertisements that focus on beer drinkers frolicking on the beach?
What will be an ideal response?
The purpose is to promote an image for the product, i.e. beer.
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One possible way of achieving faster economic growth is to
A) abolish the system of patents and copyrights so that everyone can use people's ideas. B) limit international trade to only a few countries so that the nation is not hurt by too much trade. C) encourage research and development. D) limit schooling in order to have more people in the labor force, producing goods and services. E) promote tax saving so that people spend more and businesses' profits are larger.
When the unemployment rate is less than the natural unemployment rate
A) the output gap is positive. B) the output gap equals zero. C) the output gap is negative. D) None of the above is possible because it is impossible for the unemployment rate to be less than the natural rate.
Ricardian view on debt is that the form of government finance is irrelevant.
A. True B. False C. Uncertain
What all "New Classical" models have in common is the assumption of
A) imperfect information. B) continuous clearing of product and labor markets. C) the primary importance of technological and supply shocks in causing business cycles. D) downward nominal wage rigidity. E) countercyclical real wages.