When RBC economists work out a detailed numerical example of a more general theory, they are performing
A) econometrics.
B) number theory.
C) calibration.
D) topology.
C
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Assume that a monopolist practices perfect price discrimination. The firm will produce an output rate
A) that is greater than the efficient level of output. B) that is less than the efficient level of output. C) that is equal to the efficient level of output. D) that converts consumers surplus into a deadweight loss.
Autonomous tightening of monetary policy involves ________
A) raising interest rates and shifting the MP curve to the right B) lowering interest rates and shifting the MP curve to the left C) raising interest rates and shifting the MP curve to the left D) lowering interest rates and shifting the MP curve to the right E) none of the above
The Federal Reserve Banks are owned by the:
Member banks Board of Governors United States Treasury Federal government
If the economy is on the steep portion of the AS curve
A. government spending, but not consumption, crowds out planned investment. B. consumption, but not government spending, crowds out planned investment. C. there is little crowding out of planned investment. D. there is almost complete crowding out of planned investment.