_______________ is the study of how equilibrium is determined in all markets simultaneously
Fill in the blank(s) with the appropriate word(s).
Ans: General Equilibrium Analysis
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The crowding-out effect of an expansionary fiscal policy is the result of government borrowing in the market which
A. increases interest rates and net investment spending in the economy. B. increases interest rates and decreases net investment spending. C. decreases interest rates and increases net investment spending. D. decreases interest rates and net investment spending.
Which of the following activities, ceteris paribus, will cause increased demand for euros?
a. Disney World lowers its ticket prices. b. The winter Olympic games are held in Italy. c. German residents purchase stock in American Airlines. d. U.S. interest rates rise compared to European interest rates.
Based on price setting behavior, we know that a reduction in the unemployment rate will cause
A) no change in the real wage. B) a reduction in the real wage. C) an increase in the real wage. D) an upward shift of the PS curve.
How did the Soviet model of communism compare to that of Karl Marx?
A. The models were identical. B. The Soviet model was faithful to the Marxian model, but it had been modified slightly over the years. C. What the Soviets were operating all these years was a classic capitalist model. D. While there was public ownership of the means of production, there did not appear to be a very close resemblance to the Marxian model.