Because a decrease in real autonomous spending results in a ________ in the price level, the ultimate effect on real GDP is ________ than predicted by the multiplier
A) fall; larger B) fall, smaller C) rise; smaller D) fall; smaller
D
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The process by which new products and methods of production are continuously replacing old ones is known as
What will be an ideal response?
Bob is unemployed because his skills have become obsolete due to technological advances. This is ____ unemployment.
A. frictional B. structural C. cyclical D. seasonal
Which combination of the following properties rules out indifference curves that intersect one another?
A. Completeness and diminishing marginal rate of substitution B. More-is-better and diminishing marginal rate of substitution C. Transitivity and more-is-better D. Completeness and more-is-better
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90