Suppose that M is fixed. According to the quantity equation, which of the following would make the price level higher?
a. Y or V rise
b. Y or V fall
c. Y rises or V falls
d. Y falls or V rises
d
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If output is increased in the long-run, then in the presence of internal economies of scale the number of firms will ________, and in the presence of constant external returns to scale the number of firms will ________
A) decrease; decrease B) increase; remain constant C) remain constant; increase D) decrease; remain constant E) increase; decrease
Within the U.S. population, teenagers (ages 16-19) have lower rates of labor-force participation than adults of prime working age (ages 25-54), regardless of race or gender
a. True b. False Indicate whether the statement is true or false
One argument in favor of activist monetary policy is that the economy does not always equilibrate quickly enough at Natural Real GDP
Indicate whether the statement is true or false
Which of the following Nobel laureates became known for the study of asymmetric information?
A) Gary Becker B) Michael Spence C) George Akerlof D) Ronald Coase