Proponents of the ________ model argue that the short-run supply curve is vertical
A) the monetarist model B) the new classical model
C) the new Keynesian model D) the real business cycle model
D
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Market equilibrium occurs when
A. the quantity demanded equals the quantity supplied. B. the market is changing rapidly. C. other things remain the same. D. buyers get the lowest possible price. E. everyone who wants the good gets the quantity he or she wants.
Borrowing to finance the increases in government expenditures
A) reduces current private investment expenditures. B) increases interest rates. C) reduces growth in the nation's private capital stock. D) all of the above.
Individuals have a tradeoff between leisure and work. When income from working is taxed, the cost of leisure is reduced in relative terms
a. True b. False Indicate whether the statement is true or false
In 2015, GDP per person in the United States was almost
a. $38,000. b. $36,000. c. $49,000 d. $56,000