The equilibrium in the product market is represented by which curve?
A) IS
B) LM
C) Demand
D) Supply curve
Correct Answer:
Verified
Q6: Wages and prices do not adjust quickly
Q7: When there is an increase in the
Q8: An Economic model is a statement of
Q9: LM curve shows the equilibrium condition in
Q10: The simplest ISLM model consists of:
A)Two markets
B)Three
Q12: The IS curve has a ------slope
A)Positive
B)Negative
C)Zero
D)None of
Q13: The LM curve has a ----- slope
A)Positive
B)Negative
C)Zero
D)None
Q14: ISLM model was developed by:
A)Hicks
B)Keynes
C)Friedman
D)None of these
Q15: The perfectly elastic segment of the LM
Q16: Which policy is effective in the Classical
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