Using the aggregate demand and supply model, expansionary fiscal policy will not affect the price level, but will restore full-employment GDP
a. True
b. False
Indicate whether the statement is true or false
False
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The cost of a one-unit increase in an activity
A) is called the total one-unit cost. B) is called the marginal cost. C) decreases as more of the activity is done. D) is called the marginal benefit/cost. E) is called the unit cost.
A price floor influences the outcome of a market if it is ______
A. set below the equilibrium price B. set above the equilibrium price C. an incentive for buyers to increase demand for the good D. an incentive for sellers to decrease supply of the good
A perfectly competitive firm's supply curve is its
A) marginal cost curve above its minimum average fixed cost. B) marginal cost curve above its minimum average total cost. C) marginal cost curve. D) marginal cost curve above its minimum average variable cost.
A camera manufacturer will sell its cameras only to retailers who agree to buy its brand of film. This is an example of
a. price discrimination b. exclusive dealing c. a tying contract d. interlocking directorates e. a trust