Macroeconomics does not study this aggregate
A. GDP.
B. inflation.
C. happiness.
D. unemployment.
Answer: C
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Portney's research of the 1990 Clean Air Act Amendments (CAAA) finds that MSC exceeds MSB. Based on this finding, one can conclude that
a. the CAAA are allocatively efficient b. TSC exceed TSB c. these amendments are inefficient but cost-effective d. the CAAA over-regulate society
The condition of fully flexible wages and prices was assumed by
A) no economists. B) the classical economists. C) modern economists. D) the Keynesian economists.
The classical theory of aggregate supply where markets are perfectly flexible
a. may or may not be compatible with the Keynesian system. b. is easily added the IS-LM framework of aggregate demand. c. is fundamentally incompatible with the Keynesian system. d. is consistent with the IS-LM framework if all shocks are to the IS curve. e. none of the above.
The source of the supply of loanable funds
a. is saving and the source of demand for loanable funds is investment. b. is investment and the source of demand for loanable funds is saving. c. and the demand for loanable funds is saving. d. and the demand for loanable funds is investment.