The circular flow diagram divides the economy into:
a. Domestic sector and foreign sector.
b. Agricultural sector and non-agricultural sector.
c. Producer sector and consumer sector.
d. Operating sector and non-operating sector.
e. Real sector and nominal sector.
.C
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In the diagram above, which figure(s) show(s) a direct relationship between the variables?
A) both A and C B) only D C) only A D) both B and C E) only B
Total utility increases if one more unit of a product is purchased and marginal utility is negative.
Answer the following statement true (T) or false (F)
In a model with money neutrality, a 10% increase in the money supply leads to an increase of output by
A) more than 10%. B) 10%. C) less than 10%, but more than zero. D) zero.
If the correlation between GDP and y is -0.75, we say y is
A) procyclical. B) acyclical. C) countercyclical. D) tricyclical.