Fluctuations in real GDP are caused only by changes in aggregate demand and not by changes in aggregate supply
a. True
b. False
Indicate whether the statement is true or false
False
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Most economists - both liberals and conservatives - believe a balanced budget amendment is an ill-conceived idea.
A. True B. False C. Uncertain
Wealth is redistributed from debtors to creditors when inflation is
a. high, whether it is expected or not. b. low, whether it is expected or not. c. unexpectedly high. d. unexpectedly low.
The main goal of the Fed is to control ______ and the money supply through its monetary policy instruments.
a. short-run real interest rates b. short-run nominal interest rates c. long-run real interest rates d. long-run nominal interest rates
________ are costs that require a monetary payment.
A. Implicit costs B. Explicit costs C. Accounting costs D. Both Explicit costs and Accounting costs are correct.