What is the main difference between new Keynesian economists and monetarists?
a. Monetarists support a fixed-price model, whereas new Keynesians believe that pricesfluctuate
b. Monetarists reject the idea that government intervention can stabilize the economy,whereas new Keynesians support this notion.
c. Monetarists believe that the aggregate supply curve is always horizontal, whereas newKeynesians believe that the aggregate supply curve is always vertical.
d. Monetarists believe that an increase in the money supply changes real GDPinstantaneously, whereas new Keynesians assume that economic policy operates witha long and variable lag.
e. Monetarists believe that deficit spending helps stimulate economic growth, whereas new Keynesians advocate a balanced budget.
b
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Heidi quit her job as a chef making $40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned $100,000 in revenue. Heidi pays $50,000 per year in wages to the waitresses and hostess and $20,000 per year to buy food
What is Heidi's profit as measured by an accountant for the year? A) $80,000 B) $50,000 C) $30,000 D) -$10,000
What determines how much market power a firm has?
What will be an ideal response?