Which of the following is inconsistent with Keynesian models of business cycles?
a) wage and price stickiness
b) coordination failure
c) multiple equilibria
d) efficient market allocation
e) the need for stabilization policy
d) efficient market allocation
You might also like to view...
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Net foreign investment minus net foreign portfolio investment is equal to
A) the balance of trade. B) net foreign financial investment. C) net foreign direct investment. D) capital outflows.
Which statement is most accurate about the U.S. between 1840 and1860?
a. The per capita income of free people in the West South Central was about twice the national average. b. The per capita income of free people in the entire U.S. decreased. c. The per capita income of free people in the entire U.S. increased, but increased more slowly than it did before the Revolution. d. The Northeast was the poorest part of the nation, as measured by per capita income of free people.
For a given decrease in supply, the condition of demand that will result in no change in quantity is when demand is
A. perfectly inelastic. B. elastic. C. perfectly elastic. D. inelastic.