The openness of the U.S. economy has
A) increased over time.
B) decreased over time.
C) remained fairly consistent over time.
D) decreased over the past 30 years, following a 50 year increase.
A
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(Consider This) The prisoner's dilemma reveals that:
A. collusive agreements will always fail. B. the price leadership model does not work. C. nonprice competition is more profitable than price competition. D. sometimes when individuals act independently in their own self-interest, everyone is worse off than if they had cooperated.
Which of the following statements is false?
A. Inflation that is higher than expected benefits debtors, and inflation that is lower than expected benefits creditors. B. When unanticipated inflation occurs regularly, the degree of risk associated with investments in the economy increases. C. Whether you gain or lose during a period of inflation depends on whether your income rises faster or slower than the prices of the things you buy. D. There are no costs or losses associated with anticipated inflation.
Which of the following is a New Keynesian explanation of wage and price stickiness must be discounted?
A) overlapping wage contracts B) menu costs C) efficiency wages D) all of the above
The relationship between aggregate expenditures and disposable income is shown by the: a. aggregate expenditures curve
b. consumption function. c. investment curve. d. saving-disposable personal income curve.