Economists are still unsure whether the level of demand can be affected by government policy
Indicate whether the statement is true or false
F
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Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a pound of beef in France is
A) 2 gallons of wine. B) 3 gallons of wine. C) 0.5 gallons of wine. D) 0.33 gallons of wine.
An increase in aggregate demand in the long run will most likely result in: a. a decrease in price and output levels
b. an increase in price and output levels. c. an increase in the price level and a decrease in output. d. a decrease in the price level and an increase in output. e. an increase in the price level but no change in output.
Which of the following is an implication of the random walk theory?
a. Experts will be able to make money by picking and choosing the best stocks. b. There is a systematic pattern to the movement of prices in the stock market. c. Stock market investors can expect to earn a fairly steady real rate of return of about 7 percent annually. d. Even experts will be unable to predict the future movement of stock prices with any degree of accuracy.
Unanticipated inflation benefits creditors and savers.
Answer the following statement true (T) or false (F)