According to real business cycle theorists, in modern times, economic fluctuations can largely be attributed to
A) the entry of more college graduates in the labor market.
B) advancements in technology.
C) large scale unemployment.
D) immigration policies that increased the supply of labor.
B
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A recent development in the RBC literature is the growing admission of the possible importance of
A) nominal variables. B) real demand shocks. C) favorable supply shocks. D) changes in monetary policy. E) technological changes.
A firm now produces its sales-maximizing level of output. If the firm increased its output by one unit, its marginal revenue would become
a. negative. b. smaller but still positive. c. larger but still negative. d. larger but still positive.
The following table shows John's total utility derived from billiards and bowling games. Assume John has $30 to spend on a game of billiards and/or a game of bowling. A game of billiards costs him $4, and a game of bowling costs him $2. Which of the following is John's utility-maximizing combination of the games of billiards and the games of bowling? Quantity Total Utility Games of billiards Games of bowling 0 0 0 1 100 70 2 180 130 3 240 180 4 272 210 5 288. 218 6 292. 222
a. ?Twelve games of bowling b. ?Five games of billiards and two games of bowling c. ?Four games of billiards and four games of bowling d. ?Five games of billiards and five games of bowling e. ?Three games of billiards and eight games of bowling
Of the following, which has most likely contributed the most to the rapid rise in health care costs in the United States?
A) the cost of malpractice insurance B) the cost to treat uninsured patients C) slow growth in labor productivity in health care D) the cost of malpractice lawsuit settlements