Intense market competition is ________ for consumers, since it_______
a. Bad; erodes producer surplus
b. Bad, increases variety in the market
c. Good, increases the price level in the market
d. Good; decreases the price level in the market
d
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An autonomous decrease in money demand, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
When the demand for money becomes less responsive to changes in income, the LM curve becomes ________ and it also shifts to the ________
A) flatter, left B) flatter, right C) steeper, left D) steeper, right
Other things the same, in the Solow model in the steady state, a higher rate of population growth ________ growth rate of output
A) leads to a higher B) leads to a lower C) has no long-run effect on the D) has an ambiguous effect on the
The basic reason for the multiplier effect is that, when you spend money,
a. another person receives income. b. another person must pay for it. c. your money balances are reduced. d. your net worth decreases.