The Keynesian view of the world is that the
A. self-correcting mechanism is unreliable.
B. benefits of fighting unemployment are high and the costs are low.
C. short-run Phillips curve is relatively flat.
D. All of these responses are correct.
Answer: D
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Investment banks specialize in
(a) Managing borrowing and the deposits of its customers (b) Managing commercial papers (c) Facilitating the loan interactions between banks and merchants (d) Handling long-term securities such as stocks, bonds and other securities.
Automatic stabilizers act to moderate business cycles primarily through the personal income and consumption channels
a. True b. False Indicate whether the statement is true or false
Look in your wallet. Your credit cards are
a. M1 money b. M2 and fiat money c. fiat money d. near money e. not money
Last month, sellers of good Y took in $100 in total revenue on sales of 50 units of good Y. This month sellers of good Y raised their price and took in $120 in total revenue on sales of 40 units of good Y. At the same time, the price of good X stayed the same, but sales of good X increased from 20 units to 40 units. We can conclude that goods X and Y are
a. substitutes, and have a cross-price elasticity of 0.60. b. complements, and have a cross-price elasticity of -0.60. c. substitutes, and have a cross-price elasticity of 1.67. d. complements, and have a cross-price elasticity of -1.67.