Net exports
a. are the second largest component of total spending
b. are already included in measures on consumption, investment, and government spending
c. are a source of total spending on U.S. output
d. are always positive; i.e., total exports always exceed total imports
e. are always positive; i.e., total imports always exceed total exports
C
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In a short-run macroeconomic equilibrium, potential GDP exceeds real GDP. If aggregate demand does not change, then the
A) short-run aggregate supply curve will shift rightward as the money wage rate falls. B) short-run aggregate supply curve will shift leftward as the money wage rate rises. C) long-run aggregate supply curve will shift leftward as the money wage rate rises. D) long-run aggregate supply curve will shift leftward as the money wage rate falls.
Knowledge about the price elasticity of demand is especially useful to managers because it allows them to predict how a change in price would affect a firm's total profit
Indicate whether the statement is true or false
When the rental price of capital is above the equilibrium price ________
A) we have an excess supply of capital and the rental price should fall B) we have an excess demand of capital and the rental price should fall C) we have an excess supply of capital and the rental price should increase D) we have an excess demand of capital and the rental price should increase E) none of the above
If the economy is in an inflationary gap, actual income is
A. to the right of LRAS B. to the left of LRAS C. on LRAS D. above LRAS