The change in the aggregate quantity of goods and services demanded in the U.S. is based on the logic that as the price level falls,
a. real wealth falls, interest rates rise, and net exports fall.
b. real wealth falls, interest rates rise, and net exports rise.
c. real wealth rises, interest rates fall, and net exports fall.
d. real wealth rises, interest rates fall, and net exports rise.
D
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Describe the Cournot model
What will be an ideal response?
The level of income is unchanged in response to anticipated anti-inflation policy in ________
A) real business cycle theory B) traditional Keynesian theory C) new Keynesian theory D) post classical theory
The United States was taken off the gold standard by
A) President Lyndon Johnson. B) President Richard Nixon. C) the Federal Reserve Chairman. D) President Jimmy Carter.
Productivity is
A. Output per unit of input. B. The inverse of cost efficiency. C. The increment of output produced when one more unit of an input is employed in the production process. D. The same as marginal revenue.