The quantity theory asserts that real GDP is
A) not influenced by the quantity of money.
B) never different from potential GDP.
C) equal to nominal GDP multiplied by the quantity of money.
D) equal to nominal GDP divided by the quantity of money.
A
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Discuss the following:
(i) Discuss the impact of the substitution effect on a wage increase. (ii) Discuss the impact of the income effect on a wage increase. (iii) Based on these two effects, how does a wage increase affect the supply of labor?
Demand-pull inflation is illustrated in the short run aggregate supply-aggregate demand model as a shift of the aggregate ________.
A. demand to the left B. demand to the right C. supply to the left D. supply to the right
If there are 1,000 identical rice farmers who are each willing to supply 200 bushels of rice at $2 per bushel, what price and quantity combination is a point on the market supply curve for rice?
A) $2 and 200 bushels B) $2 and 200,000 bushels C) $2,000 and 200,000 bushels D) $2,000 and 1,000 bushels E) $2 and 1,000 farmers
Who was responsible for developing the 14 principles of management?
a. max weber b. henri fayol c. douglas mcgregor d. frank gilbreth