According to the neo-Keynesians, the Phillips curve is stable over time
Indicate whether the statement is true or false
F
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Which of the following is not an appropriate policy for a central bank to follow if the economy is plagued with deflation?
A) consistently pursuing policy to promote the credibility of the central bank B) explicitly and credibly targeting inflation C) using expansionary monetary policy to drive down interest rates D) increasing the target interest rate on overnight loans
When a shortage occurs in the market for a good, quantity
a. demanded exceeds quantity supplied and the market mechanism pushes the price up, which in turn encourages more production and less consumption. b. supplied exceeds quantity demanded and the price falls, which encourages more production and less consumption. c. demanded exceeds quantity supplied and the market mechanism pushes the price down, which encourages more production and less consumption. d. supplied exceeds quantity demanded and the price rises, which encourages more production and less consumption.
Which statement is false?
A. If we restrict our imports, our exports will decline. B. Trade restrictions cause economic inefficiency. C. International finance is based on the gold standard. D. None of these statements are false.
In a 20-firm industry, two of the smallest firms merge. Yet the 4-firm concentration ratio and the 8-firm concentration ratio did not change. All things considered, we can say that the industry has
A. moved farther away from competition because the number of firms decreased. B. moved closer to pure competition because the number of firms decreased. C. experienced no change in competition even though the number of firms decreased. D. to be identified first; otherwise there is no way to tell.