A classical objection to Keynesian sticky price models is that
A) it is easier for firms to change prices rather than change output.
B) it is cheaper for firms to change output rather than change prices.
C) sticky price models are internally inconsistent.
D) real shocks are more important than nominal shocks.
A
Economics
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The fast-food industry is generally considered to be a constant cost industry in regards to its use of labor as an input. Why? a. Few people prefer to work in the industry
b. Available labor is in short supply. c. Firms use a relatively small share of unskilled labor in most cities. d. The productivity of the workers is relatively low.
Economics
A demand curve is derived from
A) the production possibilities curve. B) consumer's income. C) a demand schedule. D) an equilibrium.
Economics