The New Classical Theoretical Critique of the Existing Macroeconomic Models

question 263

Multiple Choice

The new classical theoretical critique of the existing macroeconomic models is based on

• A) the way people form their expectations.
• B) the nature of the tradeoff between inflation and growth.
• C) wages and labor market equilibrium.
• D) the link between the money market and the goods market.

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Definitions:

Oedipus Complex

A psychoanalytic theory proposed by Freud that describes a child's feelings of desire for the opposite-sex parent and jealousy and rivalry with the same-sex parent.

Impulsiveness

A tendency to act on spontaneous desires without considering the consequences.

Superego

Part of Sigmund Freud's psychoanalytic theory, representing the ethical or moral self that counters the impulses of the id.

Ego

In psychoanalytic theory, the part of the personality that mediates the demands of the id, superego, and reality.