The Keynesian short-run aggregate supply curve
A) reflects the fact that real GDP is supply-determined.
B) reflects the fact that real GDP does not vary with changes in aggregate demand.
C) is vertical.
D) is horizontal.
D
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The crowding-out effect works through interest rates to:
A. decrease the effectiveness of contractionary fiscal policy. B. decrease the effectiveness of expansionary fiscal policy. C. increase the effectiveness of expansionary fiscal policy. D. increase the effectiveness of contractionary fiscal policy.
Which of the following would be counted in 2013's GDP?
A) the value of a bond sold by the federal government B) the value of a loan you take in 2013 C) the value of a TV that was produced in 2012 but not sold until 2013 D) the bonus check a stockbroker gets from his/her company in 2013
A tax on imports is a(n)
A. tariff. B. quality barrier. C. import quota. D. voluntary import restriction.
The counterpart to the unsold output of firms is the lack of jobs for workers willing to work
a. True b. False Indicate whether the statement is true or false