In a simple Keynesian model, the aggregate supply curve is upward sloping
Indicate whether the statement is true or false
False
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A reverse Phillips Curve would consist of a
A) positive relationship between deviations from trend in real and nominal interest rates. B) negative relationship between deviations from trend in real and nominal interest rates. C) positive relationship between deviations from trend in the level of prices and the level of aggregate economic activity. D) negative relationship between deviations from trend in the level of prices and the level of aggregate economic activity.
Which answer best describes how economists suggest we deal with monopolies and oligopolies?
a. We should regulate them all until the markets become competitive. b. We should leave them alone. c. Those firms should be nationalized. d. We should fully enforce all antitrust laws. e. There is no consensus among economists on this issue.
Suppose that international trade is the only kind of international transaction between the United States and Canada. The United States currently is experiencing a balance of trade deficit with Canada. What would happen to the United States and Canadian money supplies if the United States and Canada both used the gold standard?
A) The U.S. money supply would rise and the Canadian money supply would fall. B) Both the U.S. and Canadian money supplies would rise. C) The U.S. money supply would fall and the Canadian money supply would rise. D) Both the U.S. and the Canadian money supplies would fall.
The principal amount of a bond is the amount:
A. paid to the bondholders on a regular basis. B. originally lent. C. of interest agreed upon when the bond was originally issued. D. of interest the bondholder is entitled to when the bond matures.