The usefulness of money in carry out transactions is its ________ and the nominal interest rate is its ________.
A. benefit; cost
B. demand; supply
C. supply; demand
D. cost; benefit
Answer: A
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Explain why price and wage stickiness in the short run are reasons that macroeconomic shocks can result in fluctuations in total employment and total production
What will be an ideal response?
The classical framework is based on which of the following assumptions?
A) many firms in the economy B) no single firm can control prices C) in the long-run the quantity of factors supplied must be equal to the quantity of factors demanded D) all of the above E) none of the above
The forecast is
A) made for some date beyond the data set used to estimate the regression. B) another word for the OLS predicted value. C) equal to the residual plus the OLS predicted value. D) close to 1.96 times the standard deviation of Y during the sample.
Refer to Scenario 3.2 below to answer the question(s) that follow.SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.Refer to Scenario 3.2. The floods that destroyed part of the lettuce crop would have caused the equilibrium price of spinach to ________ and the equilibrium quantity of spinach to ________.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase