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. provides no information because prices in a market system are managed by planning boards.
B. tells consumers to buy less pork
C. tells producers to produce more beef.
D. tells consumers to buy more beef.
A. Hispanics and Asians
B. African Americans
C. Western Europeans
D. Middle Eastern
A. 5 percent
B. 10 percent
C. 25 percent
D. 55 percent
A. At equilibrium wages workers sleep when the boss is not looking because workers are not deeply concerned about being fired
B. At equilibrium wages workers often quit to find better jobs.
C. At equilibrium wages only minimally qualified workers apply for the job
D. At equilibrium wages, workers cannot afford a healthy diet so they fall asleep at work due to a lack of energy
E. All of these answers
A. The richest 10 per cent of the population has had a bigger percentage increase in incomes over the past 10 years than the poorest 10 percent
B. Inflation is rising
C. The proportion of people’s income paid in taxes is higher under this government than under the previous one.
D. Inequality in the distribution of income is a more serious problem than unemployment
A. An increase in price by the firm is not followed by others
B. An increase in price by the firm is followed by others
C. A decrease in price by the firm is followed by others
D. Firms collude to fix the price