According to the new Keynesian economists, SAS adjusts slowly to a change in AD because of
A) high menu costs.
B) staggered overlapping wage contracts.
C) efficiency wages.
D) All of the above combinations explain slow adjustments in SAS.
D
Economics
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As measured, GDP omits which of the following? i. Illegal sales of goods and services ii. Changes in the amount of leisure time iii. Household production of goods and services
A) i only B) i and ii C) ii and iii D) i and iii E) i, ii, and iii
Economics
Which of the following is not included in aggregate demand?
a. purchases of stock and bonds b. purchases of services such as visits to the doctor c. purchases of capital goods such as equipment in a factory d. purchases by foreigners of consumer goods produced in the United States
Economics