A simple Keynesian model is representative of a closed economy, with no foreign sector
Indicate whether the statement is true or false
True
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According to the law of supply, if the price of calculators decrease, the supply of calculators will decrease, everything else held constant
a. True b. False Indicate whether the statement is true or false
Which of the following is true? a. Velocity is not constant over time
b. The best way to study economic activity is to start with the equation and then integrate the money supply and the volume of international trade. c. Control over the money supply implies that the Fed has precise control over real GDP. d. All of the above are true.
The annual membership fees of the 185 member countries of the IMF are called:
a. annuities. b. quotas. c. vetos. d. conditionalities. e. petrodollars.
Figure 11-5
Crown Theater is the only movie theater in the city. Its cost and revenue curves are shown in Figure 11-5. Monopolist Crown Theater would set the price of its tickets at
a.
$7.50.
b.
$6.00.
c.
$4.50.
d.
$3.00.