In the case of an upward-sloping aggregate supply curve, the change in real GDP brought about by a change in government spending will be less than that predicted by the simple government purchases multiplier
Indicate whether the statement is true or false
TRUE
Economics
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The German central bank, the Bundesbank, faced the risk of increased inflation caused by its actions to support an overvalued deutsche mark in the 1960s
Indicate whether the statement is true or false
Economics
An example of an externally generated business cycle is the war-induced theory
Indicate whether the statement is true or false
Economics
The drug maker Pfizer enjoyed a monopoly of the antibiotic Lipitor because of patent rights
a. True b. False Indicate whether the statement is true or false
Economics
In a monopolistically competitive market,
A. firms are small relative to the total market. B. no firm has any market power. C. there is easy entry and exit in the market. D. a and b E. a and c
Economics