The slope of the aggregate expenditure curve equals the change in
a) planned expenditure divided by the change in real GDP
b) autonomous expenditure divided by the change in real GDP
c) government expenditure divided by the change in real GDP
d) real GDP divided by the change in planned expenditure
a) planned expenditure divided by the change in real GDP
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The U.S. Postal Service has a monopoly over first-class mail service because
A) the government has granted this agency a public franchise. B) stamps are copyrighted. C) stamps are trademarked. D) stamps are patented. E) it owns a vital resource, namely all mailboxes.
An essentially classical feature in the supply-side perception of the saving-investment process is an emphasis on
a. income and, therefore, on aggregate demand. b. the importance of rates of return as influences on the rates of saving, investment, and thus capital formation. c. the inflation rate. d. money neutrality e. both b and d.
State and local spending in 2007 on police, courts, fire, and corrections represented
a. less than 10 percent of all government spending on police, courts, fire, and corrections b. about one quarter of all government spending on police, courts, fire, and corrections c. nearly half of all government spending on police, courts, fire, and corrections d. roughly two thirds of all government spending on police, courts, fire, and corrections e. 85 percent of all government spending on police, courts, fire, and corrections
The aggregate supply curve is a fixed point representing potential GDP
a. True b. False Indicate whether the statement is true or false