In the new Keynesian model, the effects on output of an anticipated aggregate demand shock are ________
A) less than if that event was unanticipated
B) greater than if that event was unanticipated
C) the same as would develop if that event was unanticipated
D) independent of whether or not that event is anticipated or unanticipated
A
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Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each
A) there will be a surplus of soft drinks. B) there will be a shortage of soft drinks. C) the supply curve of soft drinks will shift leftward. D) the demand curve for soft drinks will shift leftward.
The original rationale for government involvement in health care was _____
a. in helping to prevent and control contagious disease b. the dissemination of health care information c. the provision of health care insurance for the needy d. the provision of health care for the elderly
A monopoly
a. can ignore the law of demand b. faces a demand curve for its output that is nowhere price inelastic c. establishes the market price when it decides how much to charge d. can sell additional units of output without lowering its price e. is also a perfect price discriminator
Oligopolists almost always cooperate in making price and output decisions.
Answer the following statement true (T) or false (F)