To explain the short-run fluctuations in the real-world economies, economists refer to:
A) The combination of unexpected changes in demand and flexible prices
B) The combination of unexpected changes in demand and inflexible prices.
C) the combination of fully expected changes in demand and inflexible prices.
D) the combination of flexible prices and changes in the inventories
A) The combination of unexpected changes in demand and flexible prices
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Raising taxes on interest and dividend income will increase the level of investment and economic growth
Indicate whether the statement is true or false
According to the traditional Keynesian approach, if the government increases spending by $5 million and raises current taxes by $5 million at the same time, then
A) real GDP will increase by $5 million. B) real GDP will decrease by $5 million. C) real GDP will decrease by more than $5 million. D) real GDP will remain the same.
The ____ is the government agency with the task of developing and enforcing policies that are aimed at protecting the environment
a. FDA b. DOI c. FEMA d. EPA
As the price paid to a resource increases,
a. the supply of that resource will increase in the resource market. b. the supply of that resource will decrease in the resource market. c. resources will shift from other resource markets to this one. d. resources will shift from this resource market to others. e. resource usage will be unaffected.