A recent development in the RBC literature is the growing admission of the possible importance of
A) nominal variables.
B) real demand shocks.
C) favorable supply shocks.
D) changes in monetary policy.
E) technological changes.
B
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Quotas are government imposed limits on the ________ of goods traded between countries
A) prices B) quantity C) value D) Either B or C
Exhibit 2-2 Production possibilities curve
In Exhibit 2-2, the opportunity cost of coffee when moving from A to B is:
A. the same as moving from A to C. B. the same as moving from A to D. C. the same as moving from B to D. D. the same as moving from B to C.
The output losses from an adverse inflation shock are ________ and the output losses from a fall in potential output are ________.
A. large; small B. small; large C. temporary; permanent D. permanent; temporary
Many African nations have based their growth on resource extraction.
Answer the following statement true (T) or false (F)