The the government increases the level of government expenditure. If there is no change in the aggregate supply curve, then aggregate demand will ________, real GDP will ________, and the price level will ________
A) increase; remain the same; increase
B) remain the same; increase; increase
C) increase; increase; increase
D) decrease; increase; increase
E) decrease; remain the same; decrease
C
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Explain why a single labor supply curve can have both a positive and negative elasticity
What will be an ideal response?
The broadest measure of the aggregate price level is the
a. GDP deflator. b. consumer price index. c. producer price index. d. gross domestic product.
The reserves kept as cash in the vault of a commercial bank are considered its assets
a. True b. False Indicate whether the statement is true or false
An increase in the price of bread produced domestically will be reflected in
a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.