The Keynesian revolution was based on the assumption of price and wage ________ and thus the need for an activist ________ policy
A) flexibility, monetary
B) flexibility, fiscal
C) stickiness, monetary
D) stickiness, fiscal
D
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In a market economy, what specifies the terms of exchange, facilitating exchange between strangers?
A) contracts B) insurance C) patents D) accounting rules
In the banking system of the United States, banks that wish to borrow to make up reserve deficiencies must turn to the federal funds market
a. True b. False Indicate whether the statement is true or false
If we were on curve J, the lowest three quintiles received about _____% of income.
A. 20
B. 40
C. 50
D. 60
Which of the following is the best example of scarcity?
A) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies. B) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues. C) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply. D) Pokemon Go is the most popular cell-phone app that can be downloaded free from an app store.