Dollar depreciation raises United States Real GDP when the __________ shift of the AD curve exceeds the _________________ shift of the SRAS curve
A) rightward; rightward
B) rightward; leftward
C) leftward; rightward
D) leftward; leftward
B
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The percentage markups which sellers use
A) are based on their estimates or guesses about marginal cost and marginal revenue for particular goods. B) are between 10 and 15 percent. C) are the same on all products of a single firm. D) differ between products but are the same on average for all firms.
Evidence suggests that emergency care services are normal goods
a. True b. False Indicate whether the statement is true or false
Real GDP means GDP:
A. valued at prices in a base year. B. that does not change from year to year. C. corrected for changes in quality. D. valued at prices at which goods are actually sold.
The primary reason why the Fed cannot systematically surprise the public with its monetary policy is
A. the presence of productivity shocks that generate real business cycles independent of the monetary side of the economy. B. the presence of propagation mechanisms within the economy. C. the presence of rational expectations among the public. D. the nonneutrality of money.