Which of the following models focuses on how productivity shocks explain fluctuations in real GDP?
A) the monetarist model
B) the new classical model
C) the real business cycle model
D) the new Keynesian model
Answer: C
You might also like to view...
John’s Bait Shop was surprised to learn that when it raised prices by 10 percent, total revenue was unaffected. This is because the elasticity for bait is
A. unit elastic. B. inelastic. C. elastic. D. Not enough information is given.
An example of a heuristic is:
A. predatory lending. B. a rule of thumb. C. common sense. D. a framing device.
If the British government fixes the exchange rate for its currency (the pound) below market equilibrium, it will contribute to a positive balance on current account
Indicate whether the statement is true or false
J. J. Joubert, of the Joubert Dairy, tells his friend Jacques that the average revenue he gets for a liter of milk is $1 . We know then that $1 is the dairy's
a. marginal profit b. marginal cost c. price d. total revenue e. total profit