New classical economists believe that it is possible under certain circumstances for an increase in the money supply to lead to a decrease in Real GDP in the short run
Indicate whether the statement is true or false
True
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$58544643343222211 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be
A. 900. B. 1,500. C. 600. D. 200.
One organization in the United States today that is exempt from antitrust laws is
A. the steel industry. B. the automobile industry. C. professional baseball. D. the oil industry.
People have reduced their expectations of inflation from 5% to 3%, directly causing
A. an increase in money demand, shifting the LM curve up and to the left. B. an increase in money demand, shifting the LM curve down and to the right. C. a decrease in money demand, shifting the LM curve up and to the left. D. a decrease in money demand, shifting the LM curve down and to the right.
The XYZ Computer Company has a monopoly over the production of a specialized color printer. The XYZ Computer Company will find it profitable to increase the production of specialized color printers as long as marginal cost
A. is greater than marginal revenue. B. is less than marginal revenue. C. is positive. D. equals marginal revenue.