A discovery that increases wheat yields per acre helps farmers by increasing both supply and total revenues
a. True
b. False
Indicate whether the statement is true or false
False
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If both money demand and commodity demand are unstable, as many activists believe, which type of policy target(s) would most likely lead to a stable economy (assuming supply-side shocks are likely to occur)?
A) money supply target B) real GDP target C) interest rate target D) nominal GDP
If the economy experiences a recessionary gap then:
a. aggregate expenditures exceed the level of spending necessary to provide for full employment. b. Keynesian economics would recommend a reduction in government spending or an increase in taxes. c. Keynesian economics would recommend an increase in government spending or a decrease in taxes. d. the equilibrium level of output and income is above full employment.
If marginal costs are falling and below average costs, then average costs must be falling too
Indicate whether the statement is true or false
The balance of trade is derived by subtracting merchandise imports from merchandise exports
Indicate whether the statement is true or false