In the new Keynesian model, sticky prices may be due to ________
A) involuntary unemployment
B) negative productivity shocks
C) positive productivity shocks
D) staggered prices
D
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Regulation that specifies that a firm's profits must be shared with its customers if the profit rises above a target level is called
A) rate of return regulation. B) minimum price regulation. C) earnings sharing regulation. D) average cost pricing.
The feature of preferences that "more is better"
a. is a logical consequence of transitivity b. is shared by most people, most of the time. c. implies that 5 apples will always be preferred to 4 oranges d. implies that 5 apples will always be preferred to 5 oranges e. means that, when dining, people always try to eat as much as they possibly can
Refer to Figure 7.1. What is the average product of 20 workers?
A. 1.1 units of output
B. 22 units of output
C. 2 units of output
D. 8 units of output
The emerging market economies are
A) the nations with the highest standards of living.
B) most of the nations of Western Europe.
C) in transition from state-owned production to free markets.
D) the largest grouping including the nations of China and India.
E) the nations that are currently agricultural in nature.