New Keynesian economists
a. believe that the deviations of output below potential output during recessions are socially costly.
b. presume that much unemployment is involuntary.
c. attempt to improve the microeconomic foundations of the traditional Keynesian models, not challenge their major premises.
d. Both a and c
e. All of the above
E
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Your textbook authors argue that the redemption efforts to free Sudanese slaves
A) generally succeeded until the government stepped in and created unintended shortages. B) worked poorly because slave surpluses became rampant. C) unintentionally increased profitability and slave supply. D) proved that underground markets do not coordinate the plans of participants.
Which of the following constrain (that is, limit) a firm's profits? I. its technology II. its information III. the market in which it operates
A) I only B) I and II C) II and III D) I, II and III
The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle
Indicate whether the statement is true or false
Explain why in the case of economies of scope the production possibility frontier is bowed outward
What will be an ideal response?