Which types of expenditures are autonomous?
Government, net exports, investment [Components of aggregate expenditure that do not depend on the level of national income. This is the expenditure even when (disposable) income is zero.]
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Cyclical unemployment ________
A) decreases during an expansion B) grows at the same rate as potential GDP C) is zero at a business-cycle trough D) decreases during a recession
In a Betrand price-setting duopoly model, the equilibrium output:
a. will be equal to the monopoly output. b. will be equal to the competitive market output. c. will lie between the monopoly and the competitive market output. d. will be higher than the monopoly output.
In the late 1980s, the U.S. money supply
A. grew at an increasing rate. B. grew at a steady rate. C. grew at a decreasing rate. D. did not grow.
Import restrictions due to the imposition of tariffs by the U.S. government
A. will ultimately cause inefficient resource allocation in the United States. B. will lead to a decline in the quantity of the product consumed in the United States. C. will lead to lower incomes in the economy of U.S. trade partners. D. All of these are likely to occur.