Business cycle models with flexible prices
A) are all non-Keynesian models.
B) were first introduced in the General Theory of Employment, Interest, and Money.
C) the only business cycle models in use.
D) none of the above.
D
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For a competitive firm, the value of output ___________ and the marginal product of labor ___________ with each additional worker hired.
A. stays constant; decreases B. increases; decreases C. increases; increases D. decreases; stays constant
One advantage market economies have over centrally-planned economies is that market economies
a. provide an equal distribution of goods and services to households. b. establish a significant role for government in the allocation of resources. c. solve the problem of scarcity. d. are more efficient.
The financing of U.S. export transactions, ceteris paribus
A) reduces U.S. interest rates. B) reduces the amount of foreign currency held by the Fed. C) reduces U.S. GDP. D) increases the amount of foreign currency held by U.S. banks.
Aid is considered "tied" when it is
a. provided for restricted purposes b. required to be used for purchases from the donor country c. provided in exchange for the recipient's support in the United Nations d. required to be used solely for either public or private projects e. none of the above