Behavioral economists and traditional economists both believe that everything matters.
Answer the following statement true (T) or false (F)
True
Both behavioral economists and traditional economists believe that everything matters. The difference is in the way they model "everything."
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An increase in aggregate demand will shift the short-run Phillips curve to the right.
Answer the following statement true (T) or false (F)
Moral hazard occurs ________ an agreement is made and when monitoring the parties to the agreement is ________
A) before; easy B) before; costly C) after; easy D) after; costly
When savings ratios in the United States are above 5 percent, the economy grows at a rate of less than 3 percent
Indicate whether the statement is true or false
Suppose that there is a decrease in the costs of production that shifts the short-run aggregate-supply curve right. If there is no policy response, then eventually
a) because unemployment is high, wages will be bid up and short-run aggregate-supply curve will shift right. b) because unemployment is high, wages will be bid down and short-run aggregate-supply curve will shift right. c) because unemployment is low, wages will be bid up and short-run aggregate-supply curve will shift right. d) because unemployment is low, wages will be bid up and short-run aggregate-supply curve will shift left.