An inflationary gap will exist when the full employment level of GDP is
a. equal to equilibrium GDP.
b. greater than equilibrium GDP.
c. less than equilibrium GDP.
d. greater than disposable income.
c
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Suppose that a product benefits from a successful advertising campaign. The result is that
A) the supply of the product decreases. B) the supply of the product increases. C) the demand for the product increases. D) the demand for the product decreases.
M2 money includes all the following except
a. travelers' checks b. savings accounts c. large denomination time deposits d. money market deposit accounts e. money market mutual accounts
As output rises, the MRP of an imperfect competitor will _____ that of a perfect competitor.
A. rise faster than B. fall faster than C. rise at the same rate as D. fall at the same rate as
The demand for labor is:
A. derived from the demand for the products it is used to produce. B. determined by the demand for consumer products. C. determined by the price of consumer products. D. All of these