In the long run, an increase in government purchases of military equipment would cause output to ________ and the aggregate price level to ________
A) stay constant; fall
B) fall; fall
C) fall; stay constant
D) stay constant; rise
D
Economics
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What determines the level of output in the long-run classical model?
A. aggregate demand B. capital, labor, productivity C. interest rates D. prices
Economics
Suppose this is the base year and there are only two goods (Good A and Good B) and the average person buys 8 of Good A in a year and 6 of Good B. If the Price of Good A is $8 and the Price of Good B is $6, the price index
A. is 50. B. is 36. C. is 100. D. is 64.
Economics
The MC curve is
A. J.
B. K.
C. L.
D. M.
Economics
National income equals gross national product minus
A) imports. B) depreciation. C) inventories. D) changes in inventories.
Economics