Which of the following observations concerning the Keynesian model is not true?
a. It is helpful in explaining the events that unfolded in the 1930s
b. It is less useful in explaining today's economy.
c. It explains the stagflation of the 1970s.
d. It does not incorporate possible shifts in the aggregate supply curve.
c
Economics
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Assume that a consumer purchases a combination of products Y and Z and that the MUy/Py = 25 and MUz/Pz = 20. To maximize utility, without spending more money, the consumer should:
A. Purchase less of Y and more of Z B. Purchase more of Y and less of Z C. Purchase more of both Y and Z D. Make no change in Y and Z
Economics
Refer to the below table. The marginal revenue product of the fourth unit of input is approximately:
A. $27
B. $21
C. $16
D. $13
Economics