Which of the following did classical economists believe caused depressions and high unemployment?
a. Sticky product prices
b. Tax increases
c. Business expectations
d. Sticky wages
e. Sticky interest rates
b
You might also like to view...
Comparative advantage is always a(n) ________ concept
A) absolute B) efficiency C) relative D) monetary
Jim's Burgers produces 600 burgers per week. Each burger sells for $3 . Goody Candy orders 500 burgers for its upcoming office party from Jim's Burgers. Jim decided to accept the order for $1250 lump sum. What would be the marginal revenue per burger for this order?
a. $3 b. $2.50 c. $0.50 d. It cannot be determined with the information given
Outsourcing of services to foreign countries:
a. Cost the U.S. economy an estimated 5 million jobs by 2005. b. Mainly impacts workers in business services such as data entry and software development. c. Is a serious concern for workers in high-wage manufacturing industries. d. Will have a serious negative impact on all service sector jobs in the United States
Due to the fact that Curly used his frequent flyer miles to fly to visit Moe, Curly told Moe that it didn't cost him anything to visit. Is Curly correct?
A. Yes, because Curly could stay at Moe's house for free. B. No, because Curly had to pay for earlier trips in order to earn the frequent flyer miles. C. No, because Curly could have used his frequent flyer miles to go somewhere else instead. D. Yes, because Curly's frequent flyer miles made the trip free.