In the Keynesian model in which the Keynesian short-run aggregate supply curve exists
A. aggregate demand determines real GDP per year.
B. unemployment cannot persist for long periods of time.
C. the aggregate demand curve determines the price level.
D. the short-run aggregate supply curve determines real GDP.
Answer: A
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Indicate whether the statement is true or false
Which of the following has the lowest present value?
A) $1,000 received in 3 years if the current interest rate is 4% B) $1,500 received in 5 years if the current interest rate is 6% C) $2,000 received in 6 years if the current interest rate is 11% D) $3,000 received in 10 years if the current interest rate is 13%
"The social cost of a monopoly comes from the fact that it charges a price higher than what consumers are willing to pay." Do you agree or disagree? Why?
What will be an ideal response?
If: (1) you produce 1,000 units, (2) your total revenue is $7,500, (3) the wage rate you pay each of the 10 workers you hired is $9.50 per hour, and (4) they each work 8 hours to produce that 1,000 units, then you should not shut down
Indicate whether the statement is true or false