Attitudes toward public land use have changed numerous times since the late 1800s

Indicate whether the statement is true or false


True

Economics

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If the GDP deflator is equal to 100, then for that year nominal GDP is equal to real GDP

Indicate whether the statement is true or false

Economics

Alice's Restaurant is a business that is struggling to make a profit. Alice, the sole proprietor, wins the state lottery and becomes a multi-millionaire. She plans to continue to operate the restaurant because she enjoys the work. As her economist friend, the best advice you could give her would be to

a. form a corporation b. bring in a partner c. open a second restaurant d. work under-the-table e. work more hours

Economics

Describe the Keynesian transmission mechanism for a decrease in the money supply. Assuming that no liquidity trap exists, that investment is interest-sensitive, and that the economy is in the horizontal portion of the AS curve, what happens to Real GDP and the price level? How can you tell if this is a direct transmission mechanism or an indirect one?

Economics

Explain why rational expectations theorists do not support government intervention to alleviate unemployment. Explain their views on the effectiveness of fiscal policy and monetary policy.

What will be an ideal response?

Economics