The neoclassical model focuses on the underlying determinants of output and employment in markets, and thus tends to put more emphasis on
a. inflation and recessions.
b. economic growth and how labor markets work.
c. economic growth and how labor markets work.
d. economic growth and inflation.
b. economic growth and how labor markets work.
You might also like to view...
The covered interest rate parity condition can be stated as follows: The interest rate on dollar deposits equals the interest rate on euro deposits ________ the forward ________ on dollars against euros
A) plus; discount B) minus; premium C) plus; premium D) minus; discount E) times; premium
In the short-run velocity is not constant. Which of the following variables can be affected by a change in money supply?
I. real GDP II. nominal GDP III. the price level A) III only B) II and III C) I, II, and III D) If velocity is not constant, then none of the variables is affected.
Network effects on the Internet:
A. help firms like Google and Facebook dominate their respective markets. B. allow many firms to operate, making Internet markets highly competitive. C. cause economies of scale to be exhausted quickly. D. create a level playing field for all types of media, communication, and commerce on the Internet.
Even when measured accurately, GDP may be a misleading measure of economic welfare because it cannot account for
A) the value of government spending and how efficiently we produce goods and services. B) how efficiently we produce goods and services and the value of non-market production. C) the value of non-market production and the consequences of an unequal distribution of income. D) the consequences of an unequal distribution of income and the value of government spending.