According to the real-business-cycle perspective
A) the economy cannot be stabilized by policy activism.
B) the Phillips curve is very important.
C) passive policy making is important.
D) active policy making is important.
A
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If individuals are convinced that the government will take care of all their medical needs after they retire, then
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward.
For a firm to be economically efficient from society's point of view, it should produce to the point at which
A) marginal cost equals marginal revenue. B) marginal cost equals average total cost. C) marginal cost equals price. D) average total cost equals price.