If the price of good X increases and this causes an increase in the demand for good Y, then goods X and Y are substitute goods
a. True
b. False
Indicate whether the statement is true or false
True
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In the Keynesian model in the long run, an increase in the money supply will raise
A) the price level but not the level of output. B) the level of output but not the price level. C) both the level of output and the price level. D) neither the level of output nor the price level.
Job candidates during a job search will seek to provide employers with ______ but avoid providing _____:
A. positive signals; negative signals. B. as much information as possible; private information. C. negative signals; positive signals. D. truthful information; false information.
Which of the following is assumed to be constant along a per-worker production function?
a. Output per worker b. Capital per worker c. Level of technology d. Amount of capital e. Amount of output
Prices in the Bertrand model are
A. the same as prices under a shared monopoly. B. the same as prices would be in the perfectly competitive case. C. slightly higher than prices would be under a shared monopoly. D. slightly higher than prices would be in the perfectly competitive case.