Real business cycle theorists argue that _________ can explain short- and long-term fluctuation in output?
A. imperfect labor markets
B. rational expectations
C. intertertemporal decisions of households, firms and government
D. sun spot cycles
A. imperfect labor markets
B. rational expectations
C. intertertemporal decisions of households, firms and government
D. sun spot cycles
A. Upward-slog portion of the average total cost curve
B. upward-slog portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve
A. a higher percentage of their income in taxes then low income people
B. a lower percentage of their income in taxes than low income people
C. the same percentage of their income in taxes as low income people all the taxes in the economy.
D. all the taxes in the economy
A. 1(1-MPC)
B. 1/MPS
C. 1/MPC
D. a or b
A. negative effect on economic growth during the simultaneous five-year period but has a significantly positive effect on growth in the subsequent five years
B. no effect on economic growth during the simultaneous five-year period but has a significantly negative effect on growth in the subsequent five years
C. a significantly positive effect on growth in the subsequent five years
D. an exponentially negative effect on growth ten years
A. behave like competitive firms
B. agree to act together
C. differentiate their products
D. practice price discrimination
A. supply condition only
B. demand conditions only
C. supply and demand conditions
D. can’t tell without more information