The development most responsible for the wide-spread introduction of macroeconomic models built upon solid microeconomic foundations was the
A) work of John Maynard Keynes.
B) rational expectations revolution.
C) popularization of supply-side economics.
D) development of the Keynesian coordination failure model.
B
Economics
You might also like to view...
If total spending is greater than the value of output, firms will
a. cut prices. b. decrease production levels. c. tend to raise prices. d. see inventories rise.
Economics
Monetary policy should be countercyclical, which implies that it should be loosened during a recession and tightened during periods of inflation
a. True b. False Indicate whether the statement is true or false
Economics