The idea that the interaction of the multiplier and accelerator alone generates business cycles is ascribed to
a. external cycle theorists
b. housing cycle theorists
c. innovation theorists
d. real business cycle theorists
e. internal cycle theorists
E
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In the above table, the marginal cost of the ninth unit is
A. $5.00. B. $7.00. C. $6.00. D. $4.00.
Consider the following T-account for National City Bank: Assets Liabilities Reserves $10,000 Deposits $100,000 Loans $90,000 If the required reserve ratio is lowered to 8 percent, how much can National City loan out?
A) $10,000 B) $8,000 C) $2,000 D) $0
In the new Keynesian model, the immediate effect on inflation of an anticipated aggregate demand shock is ________
A) less than if that event was unanticipated B) greater than if that event was unanticipated C) the same as would develop if that event was unanticipated D) independent of whether or not that event is anticipated or unanticipated
In a market where a positive externality is present, the effect of a government subsidy would be to ensure:
A. a more fair distribution of surplus. B. an efficient outcome. C. that those who enjoy the benefit receive the surplus. D. All of these statements are true.