Which of the following is a simplifying assumption associated with the short-run Keynesian model of equilibrium real Gross Domestic Product (GDP) determination?
A. There is no depreciation.
B. Businesses pay indirect taxes.
C. Gross private domestic investment exceeds net private domestic investment.
D. Most business profits are distributed to shareholders.
Answer: A
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The economic point of view assumes central bankers, bureaucrats, elected politicians, and tax collectors
A) are immoral. B) act selfishly. C) respond to incentives. D) act in the national interest.
Two goods are considered substitutes only if a(n)
a. decrease in the demand for one leads to a decrease in the supply of the other b. increase in the demand for one leads to a decrease in the supply of the other c. increase in the price of one leads to an increase in the demand for the other d. decrease in the price of one leads to an increase in the demand for the other e. decrease in the supply of one leads producers to switch to production of the other
When a country experiences high inflation and unemployment simultaneously, which of the following problems should be addressed first?
a. High price level b. High unemployment c. Low aggregate demand d. Low aggregate supply
In the equation, 
is a(n) _____.
A. independent variable B. dependent variable C. slope parameter D. intercept parameter