In the basic closed-economy ISLM model, the IS curve can be described by an equation where
A) output is a function of consumption.
B) money is a function of interest rates.
C) output is a function of money.
D) output is a function of interest rates.
D
You might also like to view...
An individual in the US wants to buy office equipment from England which costs 2,800 pounds. If the exchange rate is $1.92/pound, how much will it cost him in dollar terms?
a. $2,800 b. $5,376 c. $1,458 d. Need more information
If a firm experiences increasing returns to scale at all levels of output: a. the slope of its long-run total cost curve is everywhere negative
b. the slope of its short-run average cost curve is everywhere negative. c. the slope of its long-run average total cost curve is everywhere negative. d. the slope of its production function is everywhere negative.
What does the upper half of the diagram represent—the part marked 1?
a. the product market b. the factor market c. the government flow of resources d. the flow of income
If it costs you $60 to produce 3 widgets and $64 to produce 4 widgets, the marginal cost to you of producing a 4th widget is
What will be an ideal response?