A monetarist economist believes that if the economy was left alone, it would rarely operate at full employment
Indicate whether the statement is true or false
FALSE
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In the circular flow model, there are two types of markets: the ________ market and the ________ market
A) goods; factor B) supply; demand C) households; firms D) producers; consumers E) service; goods
Table 9.1 Disposable IncomeTotal Consumption(Billions of dollars per year)(Billions of dollars per year)$0$50200210What is the marginal propensity to consume in Table 9.1?
A. 0.15. B. 0.90. C. 0.80. D. 0.85.
An increase in the money supply will increase aggregate demand.
Answer the following statement true (T) or false (F)
Bilateral monopoly exists when
A) there is either a monopoly or a monopsony in the market. B) there are two competing labor unions in a labor market. C) there is a monopoly and a monopsony in a market. D) a firm is both a monopolist in its output market and a monopsonist in the input market.