Multiple Choice
Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really needed changing, market forces would have already caused it to happen.
This joke represents the view of
A) classical economists.
B) Keynesian economists.
C) economists who conclude that money illusion is widespread.
D) economists who conclude that wages and prices are inflexible.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: What effect does a stronger dollar have
Q3: Keynes suggested that the short-run aggregate supply
Q4: A stronger dollar leads to lower input
Q5: Equilibrium real GDP rises after the dollar
Q6: In the above figure, if the relevant
Q7: At higher rates of interest<br>A) households save
Q8: If the U.S. dollar becomes weaker in
Q9: Involuntary unemployment<br>A) occurs when the wage rate
Q10: Which of the following is NOT an
Q11: In the classical model, what is the