The downfall of the fooling model is that it assumes an implausibly ________ level of perception about price on the part of ________.
A) high,firms
B) high,workers
C) low,firms
D) low,workers
Correct Answer:
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Q23: Which of the following theories of business
Q24: In the fooling model,real wages
A)are countercyclical.
B)are procyclical.
C)are
Q25: A favorable supply shock shifts the production
Q26: Economist Edward Prescott is associated with the
A)early
Q27: The "real business cycle" (RBC)model adapts the
Q29: In the fooling model,AD/SAS equilibria to the
Q30: According to the Real Business Cycle model
Q31: In the RBC model,supply shocks
A)are always favorable
Q32: Robert Lucas Jr.adapted the fooling model to
Q33: Which of the following best describes the
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