An increase in wealth ________ saving supply, and the supply of loanable funds curve ________
A) does not change; does not shift
B) decreases; shifts rightward
C) increases; shifts rightward
D) increases; shifts leftward
E) decreases; shifts leftward
E
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
According to classical economists, unemployment exists because
A) it takes time and effort for someone to find a job. B) government activity causes unemployment. C) the minimum wage generates unemployment. D) workers are all identical.
When all players in a game choose the best strategy they can, given the choices of all other players, it is always a:
A. Nash equilibrium. B. positive-positive outcome. C. cooperative equilibrium. D. negative-negative equilibrium.
A fixed exchange rate is:
a. determined by the forces of supply and demand. b. the value of a nation's money in gold. c. the value of a nation's money determined by the World Bank. d. none of these.