Which statement is FALSE?
A. Wages are not downwardly flexible.
B. The rational expectations theorists argue that there is a natural level of real GDP toward which the economy gravitates.
C. The rational expectations theorists believe anti-recession policies have no effect, but admit anti-inflationary policies may be wise.
D. The rational expectations theorists believe that aggregate supply is the prime economic mover.
C. The rational expectations theorists believe anti-recession policies have no effect, but admit anti-inflationary policies may be wise.
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The difference between a firm's assets and liabilities is its
A) net worth. B) economic profit. C) implicit costs. D) accounting profit.
Public education is priced below market price largely as a result of
A) government subsidy programs. B) under-funded public education. C) rising test scores by students. D) taxpayers who contribute little to the funding of public education.