The globalized AS/AD model relates:
A. directly to tradable and indirectly to non-tradable goods.
B. directly to both tradable and non-tradable goods.
C. to tradable goods only.
D. to tradable services only.
Answer: A
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A depreciating domestic currency is often perceived to be a sign of a(n):
A) economic expansion. B) strong government. C) weak government. D) global slowdown.
The power of the supply and demand model lies in its ability
A) to generally predict how price and quantity will change with supply and demand shocks. B) to precisely predict the impact of government regulations on quantity and price. C) to precisely determine the difference between price ceilings and price floors. D) to generally predict how profit motive impacts the distribution of goods and services.
According to liquidity preference theory, a decrease in the price level shifts the
a. money demand curve rightward, so the interest rate increases. b. money demand curve rightward, so the interest rate decreases. c. money demand curve leftward, so the interest rate decreases. d. money demand curve leftward, so the interest rate increases.
Another term for intermediaries who specialize in reducing transaction costs is
A) service providers. B) consultants. C) middlemen. D) revenue agents.