From the Monetarist perspective, an autonomous downward shift in investment will
A) shift the aggregate demand curve to the left.
B) shift the aggregate demand curve to the right.
C) have little effect on the aggregate demand curve.
D) cause a downward shift in the consumption function.
C
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In both Gamma and Delta average labor productivity is $40,000 per worker per year. The population of Gamma is 200,000 and the population of Delta is 400,000. Fifty percent of the population in each country is employed. Total output in Gamma is ________ and total output in Delta is ________.
A. $2. 4 billion; $4. 8 billion B. $4 billion; $8 billion C. $8 billion; $16 billion D. $100,000; $200,000
To close an expansionary gap, the Fed ________ interest rates which ________ planned aggregate spending and ________ short-run equilibrium output.
A. raises; increases; increases B. raises; decreases; decreases C. raises; decreases; increases D. reduces; increases; decreases
The production of agricultural products such as wheat or corn would best be described by which market model?
A. Pure competition B. Pure monopoly C. Monopolistic competition D. Oligopoly
A competitive market system promotes growth by providing producers with market signals on which to base investment and production decisions.
a. true b. false