Economists first began studying the relationship between changes in aggregate expenditures and changes in GDP
A) at the end of the Civil War. B) during the Great Depression.
C) during the Industrial Revolution. D) in the 1950s.
B
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What is the difference between aggregate expenditure and aggregate demand?
What will be an ideal response?
Real business cycle proponents argue that
a. recessions are caused by movements of output away from the natural rate of output. b. prices and wages are sticky. c. macroeconomics should be based on the same assumptions as microeconomics. d. monetary policy is important in determining recessions. e. none of the above.
Some economists, called supply-siders, argue that changes in the money supply exert a strong influence on aggregate supply
a. True b. False Indicate whether the statement is true or false
How can the money supply impact interest rates and investment?
a. M? ? i? ?I??AD??Y? b. M? ? i? ?I??AD??Y? c. M? ? i? ?I??AD??Y? d. M? ? i? ?I??AD??Y?