The proponents of ________ and ________ think that the Federal Reserve should adopt a constant monetary growth rule
A) new Keynesianism; the new classical model B) the real business cycle model; Marxism
C) the monetarist model; the Keynesian model D) rational expectations; monetarism
D
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The reduced form equation for X
A) regresses the endogenous variable X on the smallest possible subset of regressors. B) relates the endogenous variable X to all the available exogenous variables, both those included in the regression of interest and the instruments. C) uses the predicted values of X from the first stage as a regressor in the original equation. D) uses smaller standard errors, such as homoskedasticity-only standard errors, for inference.
Which of the following is a common long-run response for a firm that is making a profit in the short run?
a. It will invest more resources in other firms. b. It will cut back the firm’s resources. c. It will invest more resources in the profitable process. d. It will keep allocation of the firm’s resources the same.