________ emphasize(s) that changing expectations about the future is the main reason behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory
C) Ricardian theory D) Monetary theories
B
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Along the long-run Phillips curve, the unemployment rate ________, and the inflation rate ________
A) can be any value; is equal to the natural inflation rate B) is equal to the natural unemployment rate; is equal to the natural inflation rate C) is equal to the natural unemployment rate; can be any value D) can be any value; can be any value E) None of the above answers is correct.
In general, most people
A. value the present and the future about the same. B. have a negative time preference. C. have a positive time preference. D. have a negative time preference for food and basic necessities and a positive time preference for services and luxuries.
Give a hypothetical example that shows how monetary policy could fail because of bad timing.
What will be an ideal response?
Considering the spectrum of market structures and moving from pure competition to pure monopoly we can say that
A. entry barriers get lower but exit gets more difficult. B. entry gets harder and the number of firms dwindles. C. entry becomes harder but exit becomes easier. D. none of these.