The "New Keynesian" macroeconomics centered on
A) the assumption of continuous market-clearing.
B) the importance of technological shocks.
C) the imperfectness of the information held by economic decision-makers.
D) the rational reasons for slow price and wage adjustment.
D
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The mean income of 25 employees working in a firm is $1,754 per month. What is the total income of all the employees?
A) $63,950 B) $43,850 C) $56,225 D) $40,000
It is reasonable to expect that if one firm in an oligopolistic market raises price, the its competitors will do the same so that all firms can earn increased revenues
Indicate whether the statement is true or false
The efficient quantity of a good
a. is achieved whenever the marginal cost of producing the last unit exceeds its value to some consumer b. is achieved whenever the value of the last unit to some consumer exceeds the minimum price its producer would be willing to accept for it c. will not be produced unless a side payment is made d. is the quantity at which the market supply and demand curves intersect e. is usually a fair quantity
Suppose monetary neutrality holds and velocity is constant. A 4 percent increase in the money supply
a. increases the price level by more than 4 percent. b. increases the price level by 4 percent. c. increases the price level by less than 4 percent. d. increases real GDP by 4 percent.