An increase in the equilibrium price and a decrease in the equilibrium quantity can be the result of
A) a decrease in demand.
B) an increase in supply.
C) a decrease in supply.
D) an increase in demand.
E) None of the above.
C
Economics
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What do RBC economists mean by the term calibration?
A) Modifying the structure of an economic theory to strengthen its logic B) Changing a theory as the economy changes C) Working out a detailed numerical example of a more general theory D) Writing out the implications of a theory for all the main economic variables
Economics
The "rational expectations revolution" refers to a substantial change in the thinking of ________
A) households and businesses B) policy makers C) macroeconomists D) elected officials
Economics