Explain why real business cycle theorists believe that business cycles are not a problem
Real business cycle theorists don't believe that clear and discernible business cycles exist. They see only
unevenness in the economy's growth path and view this not as a problem, but rather as a natural,
anticipated, and positive outcome of technological change and increased productivity.
Economics
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Which economist is credited with having been the first to discuss the "lemons problem"?
A) George Akerlof B) Milton Friedman C) Robert Shiller D) James Tobin
Economics
According to theory, where is the right price determined?
A) where average cost equals marginal cost. B) where marginal revenue equals marginal cost. C) where total revenue equals total cost. D) where there is a markup of 300 percent.
Economics