The short-run Phillips curve shifted during the 1970s primarily because of
A) the two large oil price shocks.
B) the changing demographics of the population.
C) tight monetary policy.
D) easy fiscal policy.
A
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If aggregate planned expenditures equal real GDP, then
A) unplanned inventory changes equal zero. B) inventories decrease below their planned levels and businesses increase their production. C) inventories decrease below their planned levels and businesses decrease their production. D) inventories increase above their planned levels and businesses decrease their production. E) there is no equilibrium level of real GDP.
Expenditures on human resources comprise about ¬¬¬¬_____ of federal expenditures
a. half b. one-third c. one-fourth d. two-thirds
Explain why the "kinked demand curve" model of oligopoly represents a game theory approach to oligopolistic behavior
What will be an ideal response?
Countries import goods in which they have:
a. an absolute advantage. b. a comparative advantage. c. a reputation for good product quality. d. a comparative disadvantage. e. a surplus domestic production.