The development most responsible for the wide-spread introduction of macroeconomic models built upon solid microeconomic foundations was the
A) work of John Maynard Keynes.
B) rational expectations revolution.
C) popularization of supply-side economics.
D) development of the Keynesian coordination failure model.
B
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People choose to do something:
A. when they believe the benefits outweigh the costs of the decision. B. when they believe the costs outweigh the benefits of the decision. C. when they believe their decision cannot be questioned by anyone else. D. when they believe it won't harm anyone and will better themselves.
Social motives include all of the following EXCEPT:
A. altruism. B. fairness. C. the desire to create a favorable impression. D. risk aversion.
Considering a call option, if the price of the underlying asset decreases:
A. the intrinsic value of the option decreases if it is above zero. B. the value of the option increases. C. the strike price decreases. D. the intrinsic value of the option increases if it is above zero.
You are the manager of a firm that sells its product in a competitive market at a price of $40. Your firm's cost function is C = 60 + 4Q2. Your firm's maximum profits are:
A. 60. B. 40. C. 80. D. 36.