Compared with the recovery from the recession of 1981-82, the recovery from the recession of 2008-09 was characterized by
a. more rapid growth of real GDP.
b. a more rapid decline in the rate of unemployment.
c. larger increases in both government spending and budget deficits as a share of GDP.
d. higher interest rates and a more restrictive monetary policy.
C
Economics
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Imperfect information is a critical assumption in the
a. classical model. b. Keynesian model. c. monetarist model. d. new Keynesian model. e. real business cycle model.
Economics
Suppose a single firm supplies all the ceramic windlasses in the U.S. The demand curve that firm faces is
a. elastic everywhere b. unit elastic everywhere c. inelastic everywhere d. perfectly inelastic everywhere e. elastic at the profit-maximizing quantity
Economics