Keynes was concerned that at macroeconomic equilibrium the economy would experience
A. Full employment but not price stability.
B. Price stability but not full employment.
C. Full employment and price stability.
D. Neither full employment nor price stability.
Answer: D
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In the United States, an official dating of business cycles
a. is executed by the Federal Reserve Bank of New York. b. originates with the Department of Commerce. c. was started by the Bureau of Labor Statistics Institute. d. is performed by the Business Cycle Dating Group of the National Bureau of Economic Research.
In general, a plaintiff and defendant should be expected to settle if the expected ________ from the litigation is ________ the expected ________.
A) gain; greater than; loss B) loss; greater than; gain C) loss; less than; gain D) loss; exactly one half of; gain
In order to analyze costs and benefits that are paid and received at different times, they must be valued at ________ in time as funds received or paid in the future are worth ________ than the same amount received or paid today.
A) a single point; more B) different points; less C) a single point; less D) different points; more
Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry's opportunity cost of attending State College is:
A. $20,000 B. $35,000 C. $15,000 D. $30,000