According to the classical model, an increase in the money supply causes
a. output to increase in the long run.
b. the unemployment rate to fall in the long run.
c. prices to rise in the long run.
d. interest rates to fall in the long run.
c
Economics
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Use the above figure. The economic profit for this firm is
A) zero. B) the distance between T and E. C) the distance between E and x-axis. D) the distance between T and x-axis.
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Markets never fail
Indicate whether the statement is true or false
Economics
A factor market is any place or process where
A. Finished services are bought and sold. B. Land, labor, or capital is bought and sold. C. Finished goods are bought and sold. D. None of the choices are correct.
Economics
For necessities, income elasticity is any value:
A. less than 0. B. between 0 and 1. C. greater than 1. D. greater than 0.
Economics