The more limited information, the _____ the new classical AS curve
a. flatter.
b. steeper.
c. horizontal.
d. downward sloping.
e. none of the above.
B
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Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. Amy's opportunity cost of producing one pound of cheese is ________ car(s).
A. 250 B. 20 C. 1/20 D. 1/250
If a country's nominal interest rate is zero, then
A) the country's economy is in a liquidity trap. B) exchange rates with other countries are likely to decline. C) exchange rates with other countries are likely to increase. D) monetary policy is likely to be very effective in stimulating the economy. E) the country's economy has achieved monetary equilibrium.
In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstances
A) increase the vacancy rate. B) increase the unemployment rate. C) reduce labor market tightness. D) reduce the size of the labor force.
A theory in which advanced countries stop growing because investment opportunities would be eliminated is referred to as:
A. secular stagnation. B. structural stagnation. C. frictional stagnation. D. reservation stagnation