The Development Most Responsible for the Wide-Spread Introduction of Macroeconomic

question 9

Multiple Choice

The development most responsible for the wide-spread introduction of macroeconomic models built upon solid microeconomic foundations was the

• A) development of the Keynesian coordination failure model.
• B) the work of Milton Friedman.
• C) work of John Maynard Keynes.
• D) popularization of the Solow growth model.
• E) rational expectations revolution.

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Definitions:

Rods

Photoreceptor cells in the retina of the eye that are sensitive to low light levels and contribute to black-and-white vision.

Trichromatic Theory

The theory of color vision suggesting that three types of cones in the retina each make a maximal chemical response to one of three colors—blue, green, or red.

Color Sensitive Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision under bright light conditions.

Retina

The light-sensitive layer of tissue at the back of the inner eye, which converts light images into electrical signals sent to the brain.