New Keynesians conclude that
A) appropriate activist policies will increase the length of cyclical fluctuations.
B) appropriate activist policies will have an known effect on the length of cyclical fluctuations.
C) appropriate activist policies can dampen cyclical fluctuations.
D) none of the above.
C
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The budget line can shift or rotate
A) only when income changes. B) only when prices change. C) when either income or prices change. D) None of the above, because changes in income and prices do not shift or rotate the budget line.
International trade in the U.S. during the antebellum period
(a) benefited the Northern economy more than the Southern economy. (b) benefited England significantly more than the U.S. (c) played an important part in the growth and expansion of the Southern economy. (d) occurred as described in all of the above.