When RBC economists compare the volatility in their models to the data, what are they looking at?
A) The degree to which variables lead output over the business cycle
B) The strength of procyclicality of different variables
C) The amount of random variation in economic variables
D) The degree to which different economic variables move together
C
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By focusing the customers on the price of a product, you make the demand for the product
a. More elastic b. Less elastic c. Perfectly inelastic d. None of the above
What is a Nash equilibrium? How is it different from a dominant strategy
All the following would be a possible loan that the International Monetary Fund might make EXCEPT
A) long-term loans to a nation's government which support growth promoting projects. B) short-term loans to a nation's government. C) long-term loans to countries which are having problems in repaying existing debts. D) a loan to a private firm.
As more women decide to work outside the home and therefore hire others to work around their home, GDP will increase by
A) only the value of the household work they are now hiring someone to perform. B) the value of the output produced by the newly working women minus the value of the household work they were previously performing. C) the value of the output produced by the newly working women plus the value of any household work they are now hiring someone to perform. D) only the value of the output produced by the newly working women. E) the value of the household work they were previously performing minus the value of the output produced by the newly working women.