Other things being equal, the relationship between price and quantity supplied is
A) negative.
B) constant.
C) positive.
D) non-existent.
Answer: C
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An unanticipated decline in investment demand within the new classical model will cause
a. the price level to fall with no effect on output. b. output to fall with no effect on the price level. c. both the price level and output to fall. d. no change in either the level of price or output.
Monopolistic competition differs from perfect competition only with regard to the number of firms participating in the market
a. True b. False Indicate whether the statement is true or false
Which of the following is included in Singapore's GDP?
a. The value of production by a Singaporean working in the U.S. b. The value of production by an American working in Singapore c. The value of production by a Singaporean that crosses the border to work in Malaysia. d. All of the above are correct.
In the Keynesian analysis of changes from one Real GDP level to another, which of the following plays a critical role?
A) changes in prices B) the relationship between optimum inventory levels and current inventory levels C) the long-run aggregate supply (LRAS) curve D) the relationship between total expenditures (TE) and the aggregate demand (AD) curve E) none of the above