Different people may have different tastes, but their tastes do not change over time
a. True
b. False
B
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Based on the figure above, the aggregate supply curve shifts rightward and the potential GDP line does not change when
A) the money wage rate rises. B) the price level rises. C) the money wage rate falls. D) the price level falls. E) both the price level and money wage rate rise by the same proportion.
Which of the following macroeconomic variables is most dependent on whether the government pursues an active approach to policy or a passive approach to policy?
a. Aggregate supply b. Aggregate demand c. Money demand d. Money supply e. Interest rate
As the marginal propensity to consume (MPC) decreases, the spending multiplier
a. increases. b. decreases. c. remains constant. d. becomes indefinable.
The confidence you have that a retailer will accept dollars in exchange for goods is based primarily on money
a. being a unit of account. b. being a medium of exchange. c. serving as a store of value. d. having intrinsic value.