According to Keynes, involuntary unemployment is possible because of
A. long-term labor contracts.
B. flexible wages.
C. government interference in the market economy.
D. free exchanges in markets.
Answer: A
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If Yt is I(2), then
A) ?2Yt is stationary. B) Yt has a unit autoregressive root. C) ?Yt is stationary. D) Yt is stationary.
Which of the following is an example of a fiscal policy?
a. Raising the discount rate b. Reducing the reserve requirement c. Reducing government spending d. Pegging the currency
In response to the severe recession of 2008-2009, the Fed
a. expanded the monetary base and pushed short-term interest rates sharply higher. b. reduced the size of the monetary base and pushed short-term interest rates sharply higher. c. more than doubled the size of the monetary base and pushed short-term interest rates to near zero. d. more than doubled the size of the monetary base and pushed short-term interest rates to a historic high.
Refer to the table below. If the product sells for $1,200 a unit, the firm's profit-maximizing output is:
The table shows the total costs for a purely competitive firm.
A. 2
B. 3
C. 4
D. 5