When the price level rises as a result of a decrease in aggregate supply, it is called cost-push inflation
a. True
b. False
Indicate whether the statement is true or false
True
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If the average interval between firms' price adjustments is relatively long
A) an increase in aggregate demand will cause a relatively short-lived increase in real GDP. B) an increase in aggregate demand will cause a relatively long-lived increase in real GDP. C) a reduction in aggregate demand will cause a relatively short-lived reduction in real GDP. D) none of the above.
The socially unproductive efforts of people or firms to win a prize is called:
A. crowding out. B. rent-seeking. C. the winner's curse. D. logrolling.
The SWOT matrix focuses on the assessment of two broad classes of environmental factors
Internal and External Internal and Environemtal External and Regulatory External and Competitive
The transactions demand for money is least likely to be a function of the:
A. Price level B. Interest rate C. Level of national income D. Frequency of wage and salary payments