________: a graph of the locus of consumption bundles that provide a consumer a given level of satisfaction
Fill in the blank(s) with correct word
Indifference curve
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Which of the following models depicts the role of money as affecting only the price level in the short run?
a. The new classical model b. The Keynesian model c. The real business cycle model d. The monetarist model
Developing countries do:
A. compete with one another for foreign investment, and this competition reduces the benefits from foreign investment. B. not compete with one another for foreign investment, because they have sufficient domestic saving to finance their investment needs. C. not compete with one another for foreign investment, because they lack the infrastructure to attract it in the first place. D. compete with one another for foreign investment, but this competition is beneficial to developing countries because it insures a more efficient allocation of resources.
Look at the figure at right. A union wishes to maximize wage income for employed union? members, so it should aim for a wage rate? ________ and a number of employed members equal to
A. W3, Q3
B. W1, Q3
C. W3, Q1
D. W2, Q2
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower