The Romer and Solow models reach the same conclusion with respect to ________
A) output growth in the long-run
B) the impact of changing population
C) the effect of an increase in the saving rate
D) the general level of prices
C
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Changes in the value of the euro affect the economies of
A. All European countries, but there would be no significant impact on countries outside Europe. B. Only those countries using the euro as currency. C. No countries as long as exchange rates are flexible. D. Potentially the entire world.
??Exhibit 16A-2 Macro AD/AS Models
?
?In Panel (b) of Exhibit 16A-2, the economy is initially in short-run equilibrium at real GDP level Y1 and price level P2. If the federal government or Fed decides to intervene, it would most likely:
A. ?decrease taxes. B. ?increase the money supply. C. increase the level of government spending for goods and services.? D. ?decrease the level of government spending for goods and services.
If a tax is placed on one good and not another, the effect that causes you to buy more or less of the taxed good because you have less real buying power is called
A. income effect. B. domino effect. C. net effect. D. substitution effect.
Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. This farmer's ________ level of output is 500 units of output.
A. loss-minimizing B. profit-maximizing C. break-even D. shut-down