Along the upward-sloping segment of the aggregate supply curve,
a. when real GDP increases, the price level rises
b. when real GDP increases, the price level does not change
c. when real GDP decreases, the price level rises
d. when real GDP increases, the price level falls
e. no relationship exists between changes in real GDP and changes in the price level
A
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The interest elasticity of money demand is estimated to be
A) small in absolute value. B) large in absolute value. C) highly volatile. D) not statistically different from zero.
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) Camp with Us Offer Financing and Happy Campers Offer Financing is a Nash equilibrium.
B) There are no Nash equilibria in this game.
C) Camp with Us Do Not Offer Financing and Happy Campers Offer Financing is a Nash equilibrium.
D) Camp with Us Do Not Offer Financing and Happy Campers Do Not Offer Financing is a Nash equilibrium.
More than 50 percent of all U.S. school children are bused to school
Indicate whether the statement is true or false
If the economy is self-regulating and current Real GDP is less than Natural Real GDP, the economy is operating __________ the natural unemployment rate and wages will __________
A) below; soon rise B) above; soon rise C) below; soon fall D) above; remain unchanged E) none of the above