The more willing monetary policymakers are to raise interest rates when faced with inflation, the ________ the AD curve is, and the ________ responsive equilibrium output is to the inflation rate
A) steeper; more
B) steeper; less
C) flatter; more
D) flatter; less
A
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Quantity demanded is affected not just by price but by other variables, such as income and the prices of other goods.
Answer the following statement true (T) or false (F)
If a perfectly competitive firm manufacturing chairs produces 100 more chairs, what happens to the market price of a chair?
What will be an ideal response?
Which of the following is not associated with global poverty?
A. Malnourishment. B. Lack of proper clothing. C. Low mortality rates. D. Lack of medical care.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your university are $100 per unit. If the instructor is paid $ 20,000 to teach both classes, should the university hire the instructor?
A. Yes, the MRP of the instructor is higher than the wage. B. Yes, the wage is higher than the instructor's MRP. C. Yes, the MRP of the instructor is lower than the wage. D. No, the wage is higher than the instructor's MRP.