The aggregate demand curve tells us equilibrium real GDP at any level of income
a. True
b. False
B
You might also like to view...
This Application addresses the economic concept of
A) procyclical investment. B) financial intermediaries. C) present value. D) the multiplier-accelerator model.
The following statements about the business cycle are correct except ______
A. it is a regular predictable cycle in real GDP around potential GDP B. from the peak to the trough, the economy is in a recession C. from the trough to the peak, the economy is in an expansion D. it is a periodic movement in economic activity including employment
The hypothesis that regulators eventually adopt policies that benefit the producers in the industry is known as the
A) capture hypothesis. B) producers' hypothesis. C) share-the-gains, share-the-pains hypothesis. D) it's-a-rip-off hypothesis.
According to the classical macroeconomic model discussed in the text, the key variable which adjusts to keep the economy in equilibrium when leakages are not equal to injections is ...
Select one: a. the inflation rate b. the interest rate c. the unemployment rate d. growth of real GDP