Over time the full-employment level of output in the United States has risen steadily
a. True
b. False
A
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In a graph with output in the Y axis and efficiency units of labor in the X axis, which of the following causes a rightward movement along the aggregate production function?
A) A decrease in the capital stock B) An increase in the total efficiency units of labor C) An improvement in technology D) A decrease in the productivity of workers
The change illustrated in the figure above is part of the transmission process of the Fed's monetary policy. As a result of the increase in the supply of loanable funds, aggregate demand ________, real GDP ________, and the price level ________
A) increases; decreases; falls B) decreases; decreases; falls C) increases; increases; rises D) increases; does not change; does not change E) None of the above answers is correct.
Under the assumption of rational expectations, an anticipated increase in the money supply has no effect on
A) nominal GDP. B) real GDP. C) the price level. D) velocity.
A wider use of charge accounts and credit cards have reduced the demand for "walking-around" money
a. True b. False Indicate whether the statement is true or false