Prescott's calibrated RBC model was able to match the data in terms of the ________ between many key macroeconomic variables and GNP; that is, in terms of how closely they moved with GNP over the business cycle
A) correlation
B) interdependence
C) gamma coefficient
D) sigma ratio
A
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According to this Application, the federal government's assuming the debts of the state governments that had been incurred during the Revolutionary War was seen as a way to
A) force states to be dependant on the federal government. B) prevent rapid inflation. C) balance the federal budget. D) strengthen the federal government.
When the dollar depreciates, U.S
a. exports and imports increase. b. exports increase, while imports decrease. c. exports decrease, while imports increase. d. exports and imports decrease.
Which of the following is a bank asset?
A. demand deposits B. savings account deposits C. certificates of deposit held by the public D. loans made to customers
When wages increase, the income effect of labor supply ________ the quantity of labor supplied because ________.
A. reduces; the price of leisure has increased B. reduces; workers acquire more of all normal goods (including leisure) when income increases C. increases; the value of working has increased D. increases; the price of leisure has increased