The curve that shows alternative combinations of the price level and real income that result in equilibrium in both the real goods and the money markets is called the:
A) aggregate demand curve.
B) short-run aggregate supply curve.
C) long-run aggregate supply curve.
D) none of the above.
A
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An increase in government expenditure can ________ potential GDP and an increase in taxes can ________ potential GDP
A) increase; never change B) increase; increase C) decrease; decrease D) never change; never change E) increase; decrease
In a multiplayer game of chicken, there can be no Nash equilibrium
Indicate whether the statement is true or false
Points on the IS curve satisfy ________ market equilibrium
A) money B) goods C) stock D) bond
When money enables us to convert excess goods into money and retain the money, it is acting as a
a. medium of exchange. b. standard of value. c. standard of deferred payment. d. store of value.