According to monetarists, changes in the money supply have long-lasting effects on the equilibrium level of real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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An increase in input costs in the production of electric automobiles caused the price of electric automobiles to rise
Holding everything else constant, how would this affect the market for gasoline-powered automobiles (a substitute for electric automobiles)? A) The supply of gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would decrease. B) The demand for gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would increase. C) The demand for gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would decrease. D) The demand for gasoline-powered automobiles would decrease because consumers could afford to buy fewer gasoline-powered automobiles.
The supply curves for labor and capital are ________ and the demand curves for labor and capital are ________
A) upward sloping; downward sloping B) vertical; horizontal C) vertical; downward sloping D) upward sloping; vertical
Suppose people value clean air more as their incomes increase, then
A) the marginal cost curve of pollution abatement to shift left, increasing the degree of air quality. B) the marginal cost curve of pollution abatement to shift right, increasing the degree of air quality. C) the marginal benefit curve of pollution abatement to shift right, increasing the degree of air quality. D) the marginal benefit curve of pollution abatement to shift left, increasing the degree of air quality.
Which of the following was NOT a factor in Japan's post-World War II economic success?
a. a high rate of investment b. a well-educated workforce c. a high rate of natural resource discovery d. a high rate of technological adoption