Which of the following would most likely cause and increase in the nominal GDP?
A. Constant output and decreasing price levels
B. Constant output and increasing price levels
C. Increasing output with greater decreases in price levels
D. Decreasing output and decreasing price levels
B. Constant output and increasing price levels
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Use the following graph to answer the next question.
The short-run supply curve for this perfectly competitive firm is the
A. segment of the MC curve lying at and to the right of quantity k. B. entire MC curve. C. segment of the MC curve lying at and to the right of quantity h. D. segment of the AVC curve lying to the right of the MC curve.
Keynes's model of the demand for money suggests that velocity is ________ related to ________
A) positively; interest rates B) negatively; interest rates C) positively; bond values D) positively; stock prices
As the probability of detecting shirking increases, the size of the bond necessary to deter shirking
A) also increases. B) stays the same. C) decreases. D) increases at an exponential rate.
Changes in government purchases affect planned spending:
A. directly, by changing autonomous expenditures. B. autonomously. C. indirectly, by changing induced expenditures. D. only when there is an expansionary gap.