The longer is the interval between firms' price adjustments
A) the smaller the output effect of a given change in the money supply.
B) the longer the interval that the horizontal new Keynesian aggregate supply curve will remain in position.
C) the new Keynesian aggregate supply curve will become steeper.
D) the shorter the interval the horizontal new Keynesian aggregate supply curve will remain in position.
B
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What is the approximate number of Americans who have jobs?
A. 160 million B. 240 million C. 290 million D. 330 million E. 3.1 billion
Product-specific services are often ________, but if they create value for the consumer, they ________ the retail demand.
A) inexpensive; increase B) inexpensive; decrease C) costly; decrease D) costly; increase
Which of the following MOST accurately describes the federal budget between 1960 and 2007?
a. By the end of the period expenditures on health and income security were each greater than expenditures on defense. b. By the end of the period expenditures on health and income security were each lower than expenditures on defense. c. Defense, income security, and health all grew as a percentage of the federal budget. d. As a share of the federal budget expenditures on defense and health grew consistently throughout the period while expenditures on income security fell.
Suppose that the marginal cost of providing public television to one more viewer is zero. If a public television station sets the price of public television equal to its marginal cost, then:
A. the station's total revenue will be zero. B. the station will have an incentive to provide the optimal level of programming. C. the station's total revenue will be positive when there are only a few viewers, but will decline as more viewers tune in. D. the television station will earn zero economic profit.