Which of the following schools of thought stressed on a fixed-price model for macroeconomic equilibrium?
a. Traditional Keynesians
b. New Keynesians
c. Monetarists
d. Classical economists
e. New classical economists
a
Economics
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In Figure 5.1, during the 1980-1990 time periods, real GDP was relatively constant but nominal GDP increased. This can be explained by
A. Lower average price levels. B. A decrease in production per capita. C. Inflation. D. Higher levels of production.
Economics
Which of the following is a policy option to eliminate an AD shortfall?
A. Reduce taxes. B. Reduce transfer payments. C. Decrease government purchases. D. All of the choices are correct.
Economics