Which of the following does not impact aggregate demand in the Keynesian model?
a. Changes in the supply of labor
b. Net exports
c. Household consumption
d. Desired business investment demand
e. Government purchases of goods and services
A
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If a monopoly can perfectly price discriminate, then its marginal revenue curve will be
A) the same as its demand curve. B) the same as its supply curve. C) the same as its marginal cost curve. D) a vertical line at the profit-maximizing quantity of output. E) undefined because it does not exist.
Which of the following statements is (are) correct?
a. Both the monetarists and classicists agree that output is completely supply determined, even in the short run b. The monetarists do not agree with the classical position that monetary policy cannot be used to influence output. c. According to both the monetarists and the classicists, output is determined by demand side factors in the short run d. None of the above
Why might two presidential candidates appear to have very similar opinions during an election year even if they come from different parties?
a. They aim to please special-interest groups. b. They are logrolling. c. They try to appeal to the median voter. d. Republicans and Democrats usually agree on most issues. e. They don't wish to appear rationally ignorant.
When the price of hot dogs at the supermarket increases, the quantity demanded of hot dog buns declines. This situation describes:
a. the income elasticity of demand for hot dogs. b. the income elasticity of demand for hot dog buns. c. the price elasticity of supply for hot dogs. d. the negative cross-price elasticity of demand for hot dogs and hot dog buns. e. the positive cross-price elasticity of supply for hot dogs and hot dog buns.