Real business cycle theories rely on changes in ____________ to as causes of short run fluctuations
A) aggregate spending by consumers
B) components of the production function
C) consumer views about the course of the economy
D) fluctuations in the quantity of money
Answer: B) components of the production function
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The figure above shows the market for tires. According to the figure, the price elasticity of demand is ________ the price elasticity of supply
A) greater than B) equal to C) less than D) not comparable to E) More information is needed to determine if the price elasticity of demand is greater than, equal to, less than, or comparable to the price elasticity of supply.
The long-run aggregate supply curve is a vertical line passing through
A) the natural rate of output. B) the natural-rate price level. C) the actual rate of unemployment. D) the expected rate of inflation.
____________ laws set a ceiling on interest rates.
Fill in the blank(s) with the appropriate word(s).
The theory that there is no way to "get rich quick" in securities due to a lack of predictable trends is
A) no-win theory. B) market trend analysis. C) random walk theory. D) trading.