GDP as predicted by the classical model is
a. lower than the actual level of GDP
b. higher than the actual level of GDP
c. smoother and steadier than actual GDP
d. more unstable over time than actual GDP
e. an accurate predictor of actual GDP
C
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Many of the world's poorest nations have Gini coefficients lower than in the U.S
Indicate whether the statement is true or false
Foreign direct investment implies that the investor obtains ________ share in a foreign company's ownership
A) less than 1 percent B) less than 5 percent C) less than 10 percent D) none of the above
If your income goes up by 2% and, in response, the quantity demanded of good x rises by 3%, the income elasticity of demand would be:
a. 1.5 b. 6 c. 3 d. .20
Price leadership is a form of
a. tacit collusion. b. explicit collusion. c. monopolistic competition. d. a cartel policing mechanism.