Jen has a PhD in economics and has been working for 3 years part-time as an instructor; she has always hoped to be hired as a full-time faculty member. The best way to describe Jen is to say she is:

"If Mexico is currently operating at a point inside its production possibilities frontier, then there are unemployed resources in Mexico." Is this statement true or false? Briefly explain your answer

What will be an ideal response?

The real business cycle theory and the new classical theory agree that

a. business cycles are driven by changes in aggregate demand. b. expectations are formed rationally. c. imperfect information plays a big role in business cycles. d. none of the above.