In the classical model, potential output cannot be increased by ?
In the classical model, potential output cannot be increased by ? A. monetary growth B. better technology C. more capital D. higher labor supply
In the classical model, potential output cannot be increased by ? A. monetary growth B. better technology C. more capital D. higher labor supply
The AD schedule indicates that _______ inflation is associated with ________ output? A. higher, lower B. higher, higher C. lower, lower D. zero, zero
All the following are types of monetary policy expect ? A. a nominal money stock targetB. a balanced budget C. an inflation target D. The pursuit of a target real interest rate
The relative-wage explanation for the existence of downwardly sticky wages emphasizes ? A. the contention that workers in one industry may be unwilling to accept a wage cut unless they know that workers in other industries are receiving similar cuts…
When economists use the term real business cycle theory they are suggesting that business cycles are caused by ? A. Shifts in aggregate supply B. changes in export demand due to the state of the world economy C. business confidence…
Doubts about the natural and the existences of the Phillips curve arose in the 1970s when the economy experienced ? A. a high rate of inflation: along with a low rate of unemployment B. simultaneously low rates of inflation and…
If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ? A. Vertical or nearly vertical B. upward slog C. downward slog D. horizontal or nearly horizontal
The Phillips curve indicates that there is a ? A. negative relationship between the inflation rate and labor demand B. positive relationship between labor supply and the inflation rate C. positive relationship between the inflation rate and the employment theD.…
Potential GDP is the level of aggregate output ? A. that can be produced if structural unemployment is zero B. that can be produced at a zero-unemployment rateC. that can be sustained in the long run without inflation D. that…
In the long run, the Phillips curve will be vertical at the natural rate of unemployment if ? A. the long-run aggregate demand curve is horizontal at the natural rate of inflation B. the long run aggregate demand curve is…