Which of the following models argue that active stabilization policy can be beneficial?
a. The classicists
b. The new classicists
c. The monetarists
d. The real business cycle theorists
e. None of the above
E
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Child labor is a widespread problem that applies primarily to children
(a) between the ages of 5 and 14. (b) between the ages of 10 and 14. (c) between the ages of 12 and 14. (d) between the ages of 12 and 16.
Which of the following is incorrect? During the Great Recession U.S:
a. Wealth fell. b. Unemployment duration rose. c. Monetary base fell. d. Inflation fell. e. All of the above are correct.
Actual real GDP will be above potential GDP if
A) inflation is rising. B) firms are producing below capacity. C) firms are producing at capacity. D) firms are producing above capacity.
An example of the law of variable input proportions can be found in
A. the law of increasing returns to scale. B. the law of diminishing marginal returns. C. the law of large numbers. D. the law of demand.