The monetary and fiscal stimulus response to the Great Recession resulted in an immediate increase in real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, output will be
A) 4 units per year and the price will be $6. B) 4 units per year and the price will be $4. C) 6 units per year and the price will be $4. D) None of the above answers is correct.
As a person's wealth increases, which of the following portfolio holdings is likely to increase the least?
A) checking account B) stocks C) money market fund D) bonds
The convergence criteria included that a country:
A) should maintain a deficit of 6% of GDP. B) can have a debt level equal to 80% of GDP. C) can have a debt level equal to 60% of GDP. D) should maintain a deficit lower than 1% of GDP.
Classical economists think general equilibrium is attained relatively quickly because
A. the level of output adjusts quickly. B. the real interest rate adjusts quickly. C. the real wage rate adjusts quickly. D. the price level adjusts quickly.