Keynes explained that recessions and depressions occur because of
a. excess aggregate demand.
b. inadequate aggregate demand.
c. excess aggregate supply.
d. inadequate aggregate supply.
b
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Labor demand curves are homogeneous of degree zero.
Answer the following statement true (T) or false (F)
What is the rationale for government provision of education?
a. Not all incomes are equal, but everyone has the right to education regardless of wealth. b. Potential students consider only their personal benefits gained from education, but the rest of society benefits, too. c. No education would be provided in the absence of government provision because everyone would consume it without paying. d. The cost of providing education for the entire public is too large. e. The government can provide education at a much lower cost than the private sector.
Bill gets medical insurance and then exercises less. Lilly has health concerns and so applies for medical insurance. Identify each of these as moral hazard or adverse selection
Covered interest parity is rarely found to hold empirically.
Answer the following statement true (T) or false (F)