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Macro AD-AS Model
In Exhibit 14A-4, the level of real GDP represented by Yp:
A. would be associated with considerable unemployment.
B. indicates that the economy is experiencing zero inflation.
C. indicates the short-run equilibrium level of real GDP.
D. is potential real GDP for this economy.
Answer: D
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Firms often seek to borrow money to expand their capital stock, and the price they pay for that money is the interest rate. What happens to quantity of money demanded if the interest rate increases?
A. It increases. B. It decreases. C. It does not change. D. The demand for money will increase.
The total production within an economy is measured as
A) Total Domestic Output. B) Total Annual Output. C) Annual Production Value. D) Gross Domestic Product. E) Gross Home Product.
A defendant believes there is a 70 percent chance that the plaintiff will win $200,000, a 10 percent chance the plaintiff will win $150,000 and a 20 percent chance the plaintiff will lose and receive nothing (zero). If the defendant's litigation cost is $100,000, what is the defendant's expected loss from the litigation?
A) $150,000 B) $255,000 C) $300,000 D) $155,000
In Figure 5.3, the most elastic supply curve:
A. is Supply1. B. is Supply2. C. is Supply3. D. cannot be determined.