The economy is in long-run equilibrium when:
What will be an ideal response?
aggregate demand intersects both long-run and short-run aggregate supply.
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Under fixed rates, which one of the following statements is the MOST accurate?
A) Monetary policy can affect only output. B) Monetary policy can affect only employment. C) Monetary policy can affect only international reserves. D) Monetary policy can not affect international reserves. E) Monetary policy can only affect money supply.
The relationship between consumer spending and disposable income is called the
a. conjunction function. b. consumption function. c. aggregate demand function. d. marginal spending function.
The chain weighted system adjusts price weights every 10 years
Indicate whether the statement is true or false
A closed economy is one that does not trade with other nations in either goods or assets.
Answer the following statement true (T) or false (F)