The analysis of the short-run and long-run Phillips Curve suggests that an increase in aggregate demand:
A. Influences real output and employment in the long run, but not in the short run
B. Influences real output and employment in the short run, but not in the long run
C. Does not influence the price level in the short run or the long run but only real output and employment
D. Does not influence real output and employment in the short run or the long run but only the price level
B. Influences real output and employment in the short run, but not in the long run
You might also like to view...
Cost-push inflation can be started by
A) a decrease in the money wage rate. B) an increase in the money prices of raw materials. C) an increase in the quantity of money. D) an increase in government expenditure on goods and services. E) a decrease in government expenditure on goods and services.
Ronald Coase is famous for the Coase Theorem, which is based on the premise that there is an economically efficient level of pollution reduction
Many economists believe that the tradable emissions allowance program that has been used to deal with the problem of acid rain has been successful in reducing emissions of sulfur dioxide in an economically efficient manner. Why isn't this program an example of the Coase Theorem?
In economics, the study of the decisions of firms in industries where the profits of each firm depend on its interactions with other firms is called
A) profit analysis. B) market structure analysis. C) game theory. D) decision theory.
Can a firm make losses by producing the rate of output at which marginal revenue equals marginal cost? Why?
What will be an ideal response?