Which of the following models focuses on how productivity shocks explain fluctuations in real GDP?
A) the monetarist model B) the new classical model
C) the new Keynesian model D) the real business cycle model
D
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If monopolistically competitive firms in an industry are making an economic profit, then new firms will enter the industry and the product demand facing existing firms will
A. become less elastic. B. decrease. C. increase. D. not be affected.
Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. Kevin will train how many clients per day?
A) 4 B) 6 C) 10 D) between 2 and 4 E) None of the above answers is correct.
Which policy measure makes it unlawful for a registered public accounting firm to provide any nonaudit service to a client contemporaneously with an impermissible audit?
A) Sarbanes-Oxley Act of 2002 B) Global Legal Settlement of 2002 C) Gramm-Leach-Bliley Act of 1999 D) Riegle-Neal Act of 1994
Which of the following scenarios shows a benefit of international trade?
a. Edie was able to buy durian from Thailand at a fruit stand in New York City year round. b. The latest film in a superhero series was the top box office draw in the country last week. c. After the knitting factory closed, the building was converted into modern loft apartments. d. Preeti earned about a third of what her U.S. counterpart earned per hour for the same work.