In Gordon's early presentation of the IS-LM and AD/SRAS/LRAS models, macro policy was assumed to have ________ effects on aggregate demand
A) immediate and certain
B) immediate but uncertain
C) delayed but certain
D) delayed and uncertain
A
You might also like to view...
According to recent research by Golden and Katz, __________ led the way in establishing high schools in the 1920s
a. the urban centers of the North b. the mid-Atlantic states c. California d. the Middle West, including Iowa and Nebraska
Which of the following is a major implication of the invisible hand concept?
A) When directed by competitive market prices, the actions of self-interested individuals will tend to promote overall economic prosperity. B) Prosperity cannot be achieved unless the selfish nature of people can be changed. C) Government-operated firms tend to have lower costs than private sector firms. D) Competition is harmful to the health of an economy because it results in wasteful duplication.
A shift occurs in the supply curve for salt when:
A. the price of salt increases. B. improvements are made in the production process. C. salt is found to be associated with high blood pressure. D. consumers expect the price of salt to increase in the future.
The public interest theory of industrial regulation contends that:
A. while industrial regulation is sound in theory, bureaucrats allow monopolists to obtain excessive profits. B. regulated monopolies are tantamount to legal cartels. C. the objective of regulation is to protect the public from the market power inherent in natural monopolies. D. firms in some industries want to be regulated.