Autonomous consumption expenditures are
What will be an ideal response?
Not influenced by disposable income
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How does the original, simplified Keynesian model compare with modern Keynesian analysis?
A) The original Keynesian model assumed price flexibility whereas the modern analysis does not. B) In both cases, the short-run aggregate supply curve (SRAS) is horizontal. C) Modern analysis shows an upward sloping SRAS to reflect some price flexibility. The original Keynesian model's SRAS is horizontal and assumes sticky prices. D) all of the above
Which of the following is FALSE about a comparison between a perfectly competitive firm and a monopolistically competitive firm?
A) A perfectly competitive firm has a horizontal demand curve, while a monopolistically competitive firm has a downward sloping demand curve. B) In the short run, a perfectly competitive firm will earn zero economic profits, while a monopolistically competitive firm will earn positive economic profits. C) Both the perfectly competitive and monopolistically competitive firm will earn economic profits equal to zero in the long-run. D) In the long run, the perfectly competitive firm will produce at the minimum of the average total cost curve, while the monopolistically competitive firm will produce to the left of the minimum of the average total cost curve.
If you want to own $1 million when you retire in 45 years, how much should you put into your retirement fund now, given the interest rate is 3 percent?
A. $250,005. B. $436,770. C. $264,439. D. $275,389.
If cyclical unemployment is eliminated
a. GDP is at its full-employment level b. GDP is at its equilibrium level c. the loanable funds market is in equilibrium d. the aggregate supply curve shifts upward e. potential output has increased