The demand for loanable funds comes from saving and the supply of loanable funds comes from investment
a. True
b. False
Indicate whether the statement is true or false
False
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In the aggregate expenditures model, if aggregate expenditures (AE) are less than GDP, then:
a. inventory is unchanged. b. inventory is depleted. c. employment increases. d. GDP decreases.
Those who favor active policy making argue that all of the following exist EXCEPT
A) perfectly flexible wages and prices.
B) inflation and unemployment are stable in the short run and predictable in the long run.
C) pure competition is not typical.
D) aggregate demand shocks can influence real GDP and unemployment.
Total revenues increase as output increases along sections of the demand curve that are:
A. downward sloping. B. price inelastic. C. upward sloping. D. price elastic.
A U.S. tariff on steel would reduce imports and lower the price of U.S. steel products.
Answer the following statement true (T) or false (F)