An inflation forecast developed in a Keynesian framework is likely to focus on
A) Federal Reserve policy.
B) international gold movements.
C) household and business spending decisions.
D) the velocity of money.
C
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Using Figure 1 below, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P1 and Y2.
B. P2 and Y2.
C. P1 and Y1.
D. P4 and Y2.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not, even when both seek to maximize profits
What will be an ideal response?
To find economic profit from accounting profit, it is necessary to
A) subtract dividends. B) add retained earnings. C) subtract the opportunity cost of capital. D) add depreciation expense.