In the New Keynesian model,
A) money is neutral.
B) money is fixed.
C) monetary policy has a real impact.
D) prices are countercyclical.
C
Economics
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A problem with the neoclassical growth theory is its
A) prediction that population growth lowers the real wage rate. B) inability to explain persistent differences between countries' GDP growth rates. C) prediction that population growth raises the real wage rate. D) comparison of the economy to a perpetual motion machine.
Economics
What is the meaning of the term "marginal rate of substitution"?
What will be an ideal response?
Economics