The larger the slope of the AE curve, the
a) larger the value of the multiplier
b) smaller the value of the multiplier
c) less likely that the multiplier will be affected
d) more likely the multiplier will be inconsequential
a) larger the value of the multiplier
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In a centrally planned economy
A. consumers do not have to consider prices when shopping. B. prices are zero. C. the government sets prices and decides how much of each good is to be produced. D. producers have an incentive to produce those goods most desired by consumers at the lowest cost.
How is the R2 value calculated, and what information does this give you?
What will be an ideal response?
A.W. Phillips's discovery of a particular relationship between unemployment and inflation for the United Kingdom
a. could not be extended to other countries, despite many researchers' attempts to provide that extension. b. was quickly extended to other countries by researchers. c. was extended to only one other country — the United States. d. was harshly criticized by the American economists Paul Samuelson and Robert Solow on the grounds that Phillips's study was fundamentally flawed.
An import tariff will have what effect on price and quanititly in the domestic market for the good?
a. increase; increase b increase; decrease c. decrease; increase d. decrease; decrease e. decrease; no change