________ recessions pose major macropolicy dilemmas.
Fill in the blank(s) with the appropriate word(s).
Inflationary
Economics
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Use the classical (RBC) IS—LM—FE model to show the effects on the economy of a temporary adverse supply shock; for example, an increase in the price of oil
You should show the impact on the real wage, employment, output, the real interest rate, consumption, investment, and the price level.
Economics
In the game depicted below, firms 1 and 2 must independently decide whether to charge high or low prices.Firm 1Firm 2??High PriceLow Price?High Price(10,10)(5,-5)?Low Price(-5,5)(0,0)If player 1 charges a high price when player 2 charges a low price, then player 2 earns:
A. ?5. B. 0. C. 5. D. 10.
Economics