The belief that the velocity of money is not constant but highly predictable is associated with the:
a. Keynesian school.
b. monetarist school.
c. rational expectations school.
d. supply-side school.
e. classical school.
b
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At the national level, higher saving rates lead to ________ and higher standards of living.
A. greater investment B. slower growth C. greater current consumption D. crowding out
At any quantity of output above the intersection of the marginal revenue and marginal cost curves:
A. ATC equal to AVC. B. MR is higher than MC. C. profits are being maximized. D. MR is lower than MC.
WTO is the acronym for:
a. the World Traffic Organization. b. the World Trade Organization. c. the World Tariff Organization. d. the World Tax Organization.
A shift in the long-run aggregate supply curve will change:
A. neither output nor the price level. B. both output and the price level. C. the price level but not output. D. output but not the price level.