The major reason for the twists, turns, and spurts in the economy's growth path, according to real business cycle theorists, is
a. interest rate fluctuations
b. wars
c. housing shortages
d. a climatic change
e. year to year changes in the pace of technological change
E
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According to Malthus, if the standard of living is above subsistence:
A) couples have more children. B) consumption is more than savings. C) couples have fewer children. D) savings is more than consumption.
During a period of economic expansion, we would expect increasing levels of employment
a. True b. False Indicate whether the statement is true or false
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and current international transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and current international transactions become more negative (or less positive). b. The GDP Price Index rises, and current international transactions become more negative (or less positive). c. The GDP Price Index and current international transactions remain the same. d. The GDP Price Index rises, and current international transactions remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Most games are ______ games in which each firm sets its own ______ without consulting other firms.
a. non-cooperative; binding contract b. cooperative; binding contract c. cooperative; price d. non-cooperative; price