Which of the following is not generally discussed at a "special case" of IS-LM analysis?
A) Horizontal IS
B) Vertical IS
C) Horizontal LM
D) Vertical LM
A
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Which formula is correct?
A) S = Yd - C B) Yd + S = C C) Yd + C = S D) Yd × S = C
When firms in monopolistic competition incur an economic loss, some firms will
A) enter the industry and produce more products. B) exit the industry, and demand will increase for the firms that remain. C) exit the industry, and demand will decrease for the firms that remain. D) enter the industry, and demand will become more elastic for the original firms. E) exit the industry and other firms will enter.
In the country of Marzipana, total consumption in Year 1 was $56,000 million and in Year 2 was $60,000 million. It has been observed that each time disposable income changes in this country by $100, consumption changes by $70 . Using this information compute the change in disposable income from Year 1 to Year 2
a. Disposable income increased by $2,800 million in Year 2. b. Disposable income decreased by $2,000 million in Year 2. c. Disposable income increased by $2,000 million in Year 2. d. Disposable income increased by $4,500 million in Year 2. e. Disposable income decreased by $2,600 million in Year 2.
The GDP deflator is designed to adjust nominal GDP for changes in
a. the level of transfer payments. b. the quality of goods over time. c. the costs of economic bads such as pollution and crime. d. the general level of prices over time.