Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; higher
C. higher; potential
D. lower; higher
Answer: A
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Who from among the following would be classified as employed?
A. Mario Faubert, a NHL hockey player at home sick with the flu. B. Jack Little, a 21 year old new college graduate actively looking for his first job. C. Brenda Smith, an 18 year old full-time college student. D. Sarah Lopez, a retired public school teacher.
On a balance sheet
A) total assets plus equity must equal total liabilities. B) total assets plus total liabilities must equal zero. C) total assets plus total liabilities plus equity must equal zero. D) total assets must equal total liabilities plus equity.
The real wealth and the real interest rate effects are both causes of the downward slope of the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
The income elasticity of demand for low-quality beef is -2. Thus, a 5% increase in the quantity of low-quality beef demanded
A. is the result of a decrease in income of 10%. B. is the result of a decrease in income of 2.5%. C. is the result of an increase in income of 2.5%. D. is unrelated to any change in income.