Assume the economy is operating at a real GDP above full-employment real GDP. Classical economists would prescribe which of the following policies?
a. Nonintervention
b. Active monetary policy
c. Contractionary
d. Expansionary
a
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The above table has data from the nation of Atlantica. Based on these data, at what point does saving equal zero?
A) None, dissavings is present at all of the above points. B) Between disposable income of $0.0 and $1.8 trillion C) Between disposable income of $4.0 trillion and $5.8 trillion D) Between disposable income of $2.0 trillion and $3.2 trillion E) None, savings is present at all of the above points.
If a Pizza Hut raises the price of a slice of pizza from $3.00 to $3.25, the quantity demanded decreases from 1,500 slices per week to 1,300 slices per week
The demand for slices of pizza is ________ and the total revenue received by this Pizza Hut ________. A) elastic; decreases B) inelastic; decreases C) elastic; increases D) inelastic; increases E) unit elastic; does not change
The value at which one currency can be exchanged for another currency is called the real exchange rate
Indicate whether the statement is true or false
Briefly and concisely define the following terms:
a. statistical discrimination b. compensating wage differential c. affirmative action