If the firm in Figure 17-4 above maintains its set price of P0, its profit is
A) G + H.
B) G + J.
C) F + G + J.
D) G + H + J + K.
E) J + K.
B
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How could an expansionary fiscal policy increase real GDP and lower the price level?
A) if the aggregate supply increases equals the aggregate demand increase B) if aggregate supply decreases more than aggregate demand increases C) if aggregate supply increases more than aggregate demand increases D) if aggregate supply decreases less than aggregate demand decreases E) if aggregate supply decreases more than aggregate demand decreases
Under Alan Greenspan, the Fed strived to hit its goals of price stability and high employment through
A) setting targets for rates of growth in the M1 and M2 money supplies. B) practicing discretionary monetary policy, reacting to counter-changes in the level of unemployment during recessions and booms. C) setting targets for the federal funds rate of interest. D) strict adherence to rules based strategies.
In the Keynesian model, when the economy is not in long-run equilibrium, then the short-run equilibrium point is not on which curve?
A) SRAS B) FE C) IS D) LM
Refer to the above figure. The marginal cost of pollution abatement is curve
A) (1). B) (2). C) (3). D) (4).