Oil prices increased significantly in 2008. According to the Keynesian model, this increase in oil prices should have caused which of the following to occur?
A) demand-pull inflation
B) demand-push inflation
C) cost-push inflation
D) cost-pull inflation
C
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What will be an ideal response?
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What will be an ideal response?
By the 2000s, investment banks had become significant participants in the secondary market for mortgages
Indicate whether the statement is true or false
The value of the marginal product of any input is equal to the marginal product of that input multiplied by the
a. wage. b. marginal cost of the output. c. change in total profit. d. market price of the output.