All of the following shift the LAS curve EXCEPT
A) a change in the capital stock.
B) an increase in the money wage rate.
C) an increase in the stock of human capital.
D) technological progress.
B
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If firms sell what they expected to sell, which of the following will be true?
A) Aggregate expenditure will be greater than GDP. B) Aggregate expenditure will be less than GDP. C) There is no unplanned change in inventories. D) Inventories will rise, and GDP and employment will fall.
The concept of "rational expectations" is consistent with the notion of
a. utility maximization. b. profit maximization. c. strong mechanisms towards equilibrium in markets d. auction markets. e. all of the above.
All items on a bank's balance sheet are stock variables
a. True b. False
When you deposit funds in a bank and then the bank lends these funds to a borrower, the bank is engaged in
A. universal banking. B. financial intermediation. C. fiduciary investment. D. fraudulent behavior.