Keynesian economists would likely argue that the classical model is which of the following?
A. a sticky price theory
B. a short-run theory
C. both a long-run and short-run theory
D. a long-run theory
Answer: D
You might also like to view...
Answer the following statements true (T) or false (F)
1) Each time a manager changes the conditions of a sale, they must consider the problem of adverse selection. 2) The lemons problem is an extreme case of moral hazard. 3) A well-known company's trademark is an example of a signal. 4) In general, moral hazard occurs at the time of the transaction and adverse selection occurs after the participants have already entered into the contract or agreement. 5) The incentive for a cost-plus-award-fee contract are less specific than a cost-plus-incentive-fee contract.
If the country of Deficitland is experiencing trade deficits, they are more likely to cut imports of
a. beef b. cocoa c. coffee d. capital goods e. soybeans
Suppose the world price of a shirt is $10. If the United States imposes a tariff of $5 a shirt, then the price of a shirt in the
A) world rises to $5. B) United States rises to $15. C) United States falls to $5. D) world rises to $15 E) world falls to $5.
In the scenario above, as a result of increased advertising, Talbot's economic profit
A) decreases by $500. B) increases by $170. C) increases by $750. D) decreases by $100.