An increase in aggregate demand will have a smaller long-run effect on real GDP if the _____
Fill in the blank(s) with the appropriate word(s).
economy is already at potential output.
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The table above gives information about the economy of Spain. If the growth rate in 1998 is maintained, real GDP will double in ________ years
A) 10 B) 18 C) 19 D) 4 E) 25
In the above figure, a perfectly competitive market will have a price of ________, and a single-price monopoly will have a price of ________
A) P1 and quantity of Q1; P2 and quantity of Q2 B) P2 and quantity of Q2; P1 and quantity of Q1 C) P3 and quantity of Q3; P1 and quantity of Q1 D) P2 and quantity of Q2; P3 and quantity of Q1 E) P2 and quantity of Q1; P1 and quantity of Q1
Which piece of legislation committed the government to pursuing unemployment policies that are consistent with maintaining price stability?
a. The Effective Pricing Act of 1971 b. The Employment Initiative Act of 1998 c. The Employment Act of 1946 d. The Stable Growth Act of 1960
The rational-ignorance effect is a result of
What will be an ideal response?