The endogenous variable in the aggregate supply curve is ________
A) output
B) the real interest rate
C) inflation
D) planned expenditure
E) none of the above
C
You might also like to view...
Currency traders expect the dollar to depreciate. What impact will this have on equilibrium in the foreign exchange market?
A) The dollar will appreciate, and the equilibrium quantity of dollars will increase. B) The dollar will depreciate, and the equilibrium quantity of dollars exchanged will decrease. C) The dollar will appreciate, and the equilibrium quantity of dollars will decrease. D) The dollar will depreciate, and the change in the equilibrium quantity of dollars exchanged cannot be determined.
Refer to Table 14-3. Which of the following statements is true?
A) The Nash equilibrium is a noncooperative, dominant strategy equilibrium. B) The Nash equilibrium is a cooperative equilibrium. C) There is no Nash equilibrium in this game because each party pursues its dominant strategy. D) The Nash equilibrium is a collusive equilibrium.
Use the following statements to answer this question: I. The income-consumption curve for perfect complements is a straight line. II. The price-consumption curve for perfect complements is a straight line
A) I and II are true. B) I is true and II is false. C) II is true and I is false. D) I and II are false.
When the economy is operating at a point where aggregate demand equals long-run aggregate supply, it must be true that:
A. aggregate demand also equals short-run aggregate supply. B. the economy is in long-run equilibrium. C. prices and expected prices are the same. D. All of these are true.