What are the leading economic indicators supposed to predict?
(A) Business cycles
(B) Nonmarket activities
(C) Consumer expectations
(D) Stagflation
Ans: (A) Business cycle
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The "stagflation" of the 1970s ________ Keynesian macroeconomics until the Keynesians started to build the consequences of changing inflationary expectations and ________ shocks into their models
A) reinforced the dominance, supply B) reinforced the dominance, demand C) deepened the eclipse, supply D) deepened the eclipse, demand
If the demand curve is perfectly inelastic, then an increase in supply will: a. increase both the price and the quantity exchanged
b. increase the price but result in no change in the quantity exchanged. c. increase the quantity exchanged but result in no change in the price. d. decrease the price but result in no change in the quantity exchanged.