If aggregate demand falls short of current output, business firms will ________ production to ________ inventories
A) cut; keep from accumulating
B) expand; keep from accumulating
C) cut; build up
D) expand; build up
A
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Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 2 ice cream cones?
A) $1.50 B) $3.00 C) $5.50 D) $6.50
Reductions in inflation have no cost in terms of lower output in ________
A) traditional Keynesian theory B) new Keynesian theory C) real business cycle theory D) traditional and new Keynesian theory
The demand for a textbook written by Schwarz and Mobley is Q = 20,000 ? 50P; supply is Q = 2,000 + 100P. Students complain about the high price of textbooks, resulting in a price ceiling and, unfortunately, a shortage of texts. Below what price will shortages occur?
A measurement in terms of current dollar value is called a(n) ________ quantity.
A. indexed B. deflated C. real D. nominal