The period of time over which all inputs are variable is the
A) market horizon.
B) short run.
C) calendar year.
D) long run.
D
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As the economy enters a strong expansion in which real GDP increases, which of the following occurs?
A) The demand for money decreases and there is a movement upward along the demand for money curve. B) The demand for money increases and there is a movement downward along the demand for money curve. C) The demand for money curve shifts rightward. D) The nominal interest rate falls as the demand for money curve shifts leftward. E) The demand for money curve shifts leftward.
When a per-unit tax is levied on a goods market in which supply is not perfectly inelastic but such a tax nevertheless does not give rise to any deadweight loss, consumers are made no worse off by the imposition of the tax.
Answer the following statement true (T) or false (F)
Although growth rates across countries vary some, rankings of countries by income remain pretty much the same over time
a. True b. False Indicate whether the statement is true or false
For an economy starting at potential output, an increase in autonomous expenditure in the short run results in a(n):
A. decrease in potential output. B. expansionary output gap. C. increase in potential output. D. recessionary output gap.