One of the primary objections to the new classical model is that ________
A) firms could easily get information about price movements and so would not be fooled for very long
B) price is negatively related to quantity demanded, but positively related to quantity supplied
C) business cycles are relatively brief in duration
D) it failed to incorporate rational expectations into its presentation
A
Economics
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In setting the price of its product, a monopolistic competitor sets the price equal to its marginal cost plus an amount called the
A) markup. B) profit. C) rent. D) menu cost.
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The following are features of the Asian model
a. high savings b. low shares of government c. large investments in human capital d. a, b and c are correct e. only a and c are correct
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