The short-run supply curve in a competitive market must be more elastic than the long-run supply curve
a. True
b. False
Indicate whether the statement is true or false
False
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According to the Keynesian model with fixed money wages, real wages should be
a. negatively correlated with changes in output. b. positively correlated with changes in unemployment. c. negative correlated with changes in the price level. d. fixed as well. e. both a and c.
A concert by Toni Braxton is
a. rival and exclusive, and therefore is a public good b. rival and exclusive, and therefore is a private good c. exclusive, but since it is nonrival, it is a public good d. nonrival and nonexclusive, and therefore is a public good e. nonrival and nonexclusive, and therefore is a private good
To macroeconomists, investment is mainly the purchases of goods and services
A) by businesses. B) to hold as wealth, such as gold coins or art. C) to hold as wealth, such as stocks and bonds. D) by the government. E) ?b and c
Macroeconomics is distinguished from microeconomics by its concentration on
A. choices. B. the performance of national economies and ways to improve upon their performance. C. individual markets. D. the level of prices in specific markets.