Using the data in the above table, in the long-run macroeconomic equilibrium, the price level is ________ and the level of real GDP is ________
A) 115; $10 trillion
B) 110; $10 trillion
C) 105; $11 trillion
D) 115; $11 trillion
A
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"A reduction in gasoline prices caused the demand for gasoline to increase. The lower gas prices also led to an increase in demand for large cars, causing their prices to rise." These statements
What will be an ideal response?
During which period did the United States experience a trade balance greater than -$700 billion on goods and services?
a. 1970–1979
b. 1980–1989
c. 1990–1999
d. 2000–2009
Non-activists believe that the principal source of AD instability is
A) private investment spending. B) private consumption spending. C) erratic government policy. D) All of the above.
According to the Gordon-Growth model, what will be the percentage change in the value of the stock of a company whose current dividend is $10
00 and whose dividends had been expected to grow by 3% per year but now are expected to grow by 1% per year? A) -4.0% B) -23.7% C) -31.1% D) -66.0%