Satellite radio and MP3 devices are both new forms of competition for over-the-air radio broadcasting
Indicate whether the statement is true or false
T Both can take listeners away from over-the-air radio broadcasters.
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The steeper the short-run aggregate supply curve, _____
a. the smaller the impact of a shift in aggregate demand on equilibrium output b. the larger the value of the spending multiplier c. the larger the impact of a shift in aggregate demand on equilibrium output d. the smaller the change in government spending needed to achieve the desired change in equilibrium output e. the flatter the aggregate demand curve
Net capital outflow measures how many capital goods are:
A. exported from a country. B. exported minus how many are imported to a country. C. imported from a country. D. imported to a country minus exported from a country.
Portugal has a comparative advantage in which product?
Each of the following is consistent with Keynesian theory EXCEPT
A. Sometimes strong government intervention is necessary to end a depression. B. The expected rate of profit is more important than the interest rate in determining the level of investment in an economy. C. Our economy always tends toward equilibrium GDP but not necessarily full employment GDP. D. Flexible wages and prices present in modern economies will end a recession.