Macroeconomic models:
A) assume that all wages and prices are sticky.
B) assume that all wages and prices are flexible.
C) make different assumptions to explain different aspects of the macroeconomy.
D) focus primarily on the optimizing behaviour of households and firms.
Correct Answer:
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Q26: Macroeconomic models are used to explain how
Q27: Variables that a model tries to explain
Q28: Which of the following statements about economic
Q29: In the relationship expressed in functional form
Q30: Endogenous variables are:
A) fixed at the moment
Q32: In a simple model of the supply
Q33: A graph of the rate of inflation
Q34: Important characteristics of macroeconomic models include all
Q35: Which statement below best illustrates the "art,"
Q50: All of the following statements about sticky
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