Proponents of the new classical macroeconomics do not believe which of the following?
A) Wages and prices will adjust rapidly in the economy.
B) Workers and firms use information contained in Fed policy to form inflation expectations.
C) The economy will normally be at its potential level.
D) Expansionary monetary policy can be an effective policy tool.
D
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If exports of an industry are $100 million and imports are zero, which of the following is the value of the index of intra-industry trade?
a. 0 b. 1 c. 0.5 d. 100 million
Refer to Table 7-3. Select the statement that accurately interprets the data in the table
A) Mateo has an absolute advantage in making spurs. B) Mateo has an absolute advantage in making saddles and Celeste has an absolute advantage in making spurs. C) Celeste has an absolute advantage in making saddles. D) Mateo has an absolute advantage in making spurs and Celeste has an absolute advantage in making saddles.