In the short run, total spending affects ________, and in the long run total spending affects ________.
A. prices; unemployment
B. output; unemployment
C. prices; output
D. output; prices
Answer: D
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If households spend $0.95 of each additional dollar of increased income, the expenditure multiplier will be
A) 1.05. B) 5. C) 20. D) 9.5.
A monopolistic competitor's demand curve tends to be more elastic than a monopolist's demand curve
a. True b. False Indicate whether the statement is true or false
To help with motivation, long-term productivity, and retention, firms with internal labor markets tend to offer all of the following except
A. benchmark competitive wages. B. efficiency wages. C. pay based on job seniority. D. internally based promotion systems.
The answer is: "It allows the inhabitants of a country to consume at a level beyond its production possibilities frontier." What is the question?
A) What do newly discovered resources do? B) What does technology do? C) What does specialization and international trade do? D) What does specialization do? E) a and b