A change in expectations in the new classical model
a. shifts the aggregate supply curve.
b. must reflect a change in the anticipated changes in the economy.
c. shifts the aggregate demand curve.
d. both a and b.
e. none of the above.
D
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A point on a production possibilities curve indicates
A) resources are not being used efficiently. B) resources are being used efficiently. C) opportunity costs are constant. D) an output combination that can be attained only if society gets more resources or there is technological change.
Suppose a perfectly competitive firm's total revenue is equal to $210 and its output is 70 units, when its marginal-cost curve intersects the marginal-revenue curve. What is the marginal revenue earned by the firm?
a. $15 b. $3 c. $30 d. $7 e. $70
. Central banks, as they conduct monetary policy, inevitably affect only ___________, with no lasting impact on ___________ in the long run.
A. prices; employment B. employment; prices C. output; prices D. demand; employment
Federal Outlays
What will be an ideal response?