An increase in investment demand for any given level of income and interest rates—due, for example, to more optimistic "animal spirits"—will, within the IS-LM framework, ______ output and ______ interest rates.
Fill in the blank(s) with the appropriate word(s).
increase; raise
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Which of the following should be used to compare the incomes of countries with huge differences in cost of living?
A) Gross national product B) Exchange rate-based measure of income per capita C) Income per working age population D) PPP-based measure of income per capita
"Similar to imports, U.S. exports depend on the level of U.S. real GDP so that if real GDP increases, U.S. exports increase." Explain whether the previous sentence is correct or incorrect
What will be an ideal response?
In economics, what differentiates the short run from the long run?
What will be an ideal response?
If a university begins a policy of permanently expelling any student caught cheating in any way, you would expect that: a. no students would cheat
b. fewer students would cheat. c. major cases of cheating would become a larger fraction of all cases of cheating attempted. d. Both b. and c. would occur.