Reductions in inflation have no cost in terms of lower output in ________
A) traditional Keynesian theory
B) new Keynesian theory
C) real business cycle theory
D) traditional and new Keynesian theory
C
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Which of the following occurred during the 20th century?
(a) The total U.S. population increased. (b) The percentage of foreign-born residents decreased, on average. (c) The median age fell. (d) All of the above occurred during the 20th century.
The median-voter theorem suggests that:
A. politicians maximize their votes by taking the policy position preferred by the median voter, under certain conditions. B. Politicians always receive more votes in general elections when they appeal to extremists in their party. C. the middle voter is generally influenced by the side they have more information on concerning an issue. D. voters tend to vote with a "mob-mentality," all voting the same.
If the government puts price controls on medical care, this will increase the supply of affordable care in the United States
a. True b. False Indicate whether the statement is true or false
When price is $6
A. there is a surplus.
B. there is a shortage.
C. there is both a surplus and a shortage.
D. there is neither a surplus nor a shortage.