Which of the following categories of business cycle theories includes the under investment theory?
a. physical.
b. monetary.
c. psychological.
d. spending and saving.
d. spending and saving.
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The rule of MC = MR does not apply to a monopolist.
Answer the following statement true (T) or false (F)
When the government bans a good:
A. it makes acquiring that good illegal. B. the cost of breaking the ban changes the trade-offs consumers face. C. it is attempting to solve the nonexcludability problem. D. All of these statements are true.
A difficulty of the barter system is:
(a) Lack of common measure of value. (b) Lack of double coincidence of wants. (c) Difficulty in storage of extra goods. (d) All of the above.
Suppose that oil prices increase sharply while the rate of growth in labor productivity declines. The combination of these two factors should ________.
A. shift the short-run aggregate supply curve to the right B. shift the short-run aggregate supply curve to the left C. shift the aggregate demand curve to the left D. shift the aggregate demand curve to the right