The aggregate supply curves shown in the model in Figure 18.3 are most consistent with the views of
A. Monetarists.
B. Keynesians.
C. Modern Keynesians.
D. Supply-siders.
Answer: A
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Refer to the figure above. What is the equilibrium wage rate and equilibrium level of employment?
A) $35 and 10 units of labor B) $20 and 15 units of labor C) $15 and 35 units of labor D) $25 and 20 units of labor
Refer to Table 9-3. Assume the market basket for the consumer price index has three products — Cokes, hamburgers, and CDs — with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 75. B) 93. C) 108. D) 121.
A mistake is a choice that:
A. the chooser later regrets. B. the choice architect creates that has unintended consequences. C. society as a whole, but not necessarily the chooser, is left worse-off once it's made. D. policymakers think choosers should not make.
Using C to represent consumption, I to represent investment, G to represent government spending, S to represent saving, X to represent exports, and M to represent imports, aggregate expenditures can be represented by:
a. C + I + G + (X + M). b. (C ? S) + G + (X ? M). c. C + I + G + (X ? M). d. C + I + G + (X ? M) ? S.