Conditions that can throw the market off of perfect equilibrium:
What will be an ideal response?
Answer: Imperfect competition, Externalities, Public Goods, Imperfect information
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The broadest measure to adjust Nominal GDP for price changes is ________.
A. exchange rates B. the Consumer Price Index (CPI) C. the Producer Price Index (PPI) D. the GDP price index
Conditional cash transfer programs are programs in which:
A. financial support is given only to people who engage in certain actions. B. financial support is given only to people who have paid into the program for a minimum amount of time. C. financial support is given only to people who agree to pay it back at reduced interest to the government in the future. D. None of these is true.
Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Refer to the table above. After applying the second bag of fertilizer, the farmer experienced:
A. increasing returns. B. diminishing returns. C. constant returns. D. negative returns.
The view that anticipated changes in the money supply will have no effect on the economy's output would most likely be a proposition of:
A. Mainstream macroeconomics B. Rational expectations theory C. Real-business cycle theory D. Monetarism