Unemployment rises and falls in the same direction as output over the business cycle
a. True
b. False
Indicate whether the statement is true or false
False
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Country A can produce 50 units of beer or 80 units of pizzas. Country B can produce 100 units of beer or 100 units of pizzas. Which of the following statements is true?
A. Country B has an absolute advantage in both products. B. Country A has a comparative advantage in pizza and country B has a comparative advantage in beer. C. Country B has a comparative advantage in pizza and country A has a comparative advantage in beer. D. A and B.
The "new classical" economics took advantage of the disarray and partial eclipse of Keynesian economics to reestablish macro model-building based on the assumption of price ________ and market ________
A) flexibility, clearing B) flexibility, non-clearing C) stickiness, clearing D) stickiness, non-clearing