In the short run with fixed wages and prices:
A) equilibrium real GDP is determined by aggregate demand.
B) equilibrium real GDP is determined by aggregate supply.
C) labour and the productive capacity of firms are always fully employed.
D) equilibrium real GDP is a fixed amount and will not change.
Correct Answer:
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Q1: When the price level is constant:
A) the
Q3: When there is an intersection of an
Q4: Which of the following statements is false?
A)
Q5: Which of the following statements is true?
A)
Q6: Autonomous investment and autonomous consumption are:
A) related
Q7: The relationship between household spending and the
Q8: According to the consumption function, as real
Q9: Which one of the following expressions best
Q10: Empirical data show that a strong, positive
Q11: Which of the following statements about the
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