The new classical economists are the
A. Keynesians.
B. economic behaviorists.
C. supply-siders.
D. rational expectationists.
D. rational expectationists.
You might also like to view...
If a Cobb-Douglas production function has alpha = 0.34 and beta = 0.42, then a 1% increase in inputs results in a ________ change in output
A) 0.8% B) 8% C) 0.76% D) -0.76%
If the supply of a commodity is inelastic, what will be the effect of a fall in demand?
Suppose the demand for Pepsi-Cola is qp = 50 - 2pp + 1pc. The firm faces a constant marginal cost of m, and pc denotes the price of Coca-Cola. Assuming Bertrand behavior, derive Pepsi-Cola's best-response function and explain how the firm changes price in response to changes in its own marginal cost and changes in Coca-Cola's price
What will be an ideal response?
Real income can be measured by
A) the slope of the budget line. B) the area under the budget line. C) the length of the budget line. D) an intercept of the budget line.