Supply-side economics is a short-run, countercyclical strategy.
Indicate whether the statement is true or false
Answer: False
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According to the quantity theory of money, a 10 percent increase in the quantity of money ultimately leads to a 10 percent increase in
A) real national income. B) real GDP. C) the price level. D) velocity.
For a good to be scarce, it must be something that
a. has economic value. b. people find useful. c. is available only in limited quantities. d. All of these.
Which of the following helps explain why pesticides account for much of the water pollution in the United States?
a. Pesticide regulations were repealed during the Reagan administration. b. Pesticide regulations are often administered by state environmental protection agencies, not the federal Environmental Protection Agency. c. Pesticide regulations are administered by the federal Environmental Protection Agency, not by state agencies. d. Pesticide regulations are often administered by state agricultural departments rather than environmental protection agencies. e. Pesticide regulations are often administered by state environmental protection agencies rather than agricultural departments.
C = a + bY is a form of the consumption function where a is
a. the consumption function, b is the marginal propensity to consume, and Y is national income b. the marginal propensity to consume, b is the consumption function, and Y is national income c. the marginal propensity to consume, b is autonomous consumption spending, and Y is national income d. autonomous consumption spending, b is the marginal propensity to consume, and Y is national income e. autonomous consumption spending, b is the consumption function, and Y is consumption spending