If real GDP increases, ceteris paribus, the demand for money decreases
Indicate whether the statement is true or false
false
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Variable inputs are defined as any resource that:
A. varies with the size of the firm's plant. B. cannot be changed as output changes. C. can be changed as output changes. D. can be increased or decreased hourly.
In terms of individual nations, the largest U.S. trade deficit is with:
A. Japan. B. Mexico. C. China. D. Canada.
Which of the following properties is common to a partnership business?
a. Limited liability b. Centralized ownership and management c. Continuity and unlimited existence of the business d. Co-ownership of contributed assets
When economic growth (a gradual shift of LRAS to the right) expands the production possibilities of an economy,
a. a higher rate of real output can be achieved in the short run, but it cannot be sustained in the long run. b. a larger output can be attained even if unemployment remains at its natural rate. c. the general level of prices will rise if the money supply is held constant. d. the equilibrium in the goods and services market will be disrupted.