Keynes believed that
A) Say's law would hold in a laissez-faire economy.
B) the economy would always be near or on its production possibilities frontier.
C) wages and prices are often inflexible in the downward direction.
D) the equilibrium level of output will always be at the full-employment level of output.
C
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Suppose you solve the profit maximization problem for a single-input, price-taking producer whose technology is given by src="https://sciemce.com/media/3/ppg__cognero__Chapter_11_One_Input_and_One_Output_A_Short_Run_Producer_Model__media__59179cfd-ca3e-489f-aabb-5a92da40ce1d.PNG" style="vertical-align: -13px;" width="79px" height="38px" align="absmiddle" /> Might 
The labor demand function is 
a. Suppose 
in fact be the correct labor demand function? Explain.
b. Suppose 
Might 
in fact be the correct labor demand function? Explain.
c. Intuitively explain how (b) might arise from the profit maximization problem.
What will be an ideal response?
In the Nash equilibrium of a prisoner's dilemma:
A. there is unrealized opportunity for both to gain. B. total economic surplus is maximized. C. both players have equal payoffs. D. there is no cash left on the table.
The labor force participation rate is defined as
a) the ratio of employment to the labor force b) the ratio of the working-age population to the total population c) the ratio of employment to the total population d) the ratio of the labor force to the civilian, non-institutionalized, working-age population e) the number of hours worked per week divided by 40
When U.S. prices are falling relative to those in the rest of the world
A. U.S. imports tend to increase. B. U.S. exports tend to increase. C. U.S exports and U.S. imports both tend to decrease. D. U.S. exports tend to decrease.