If a change in investment spending is due to a change in the price level, then the aggregate demand curve will shift
a. True
b. False
B
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
The nominal wage rate is the
A) minimum hourly wage that a company can legally pay a worker. B) average hourly wage rate measured in the dollars of a given reference base year. C) minimum hourly wage rate measured in the dollars of a given reference base year. D) average hourly wage rate measured in current dollars. E) wage rate after inflation has been adjusted out of it.
What is a "debtor nation?" Is the United States a debtor nation?
What will be an ideal response?
Ron's Hamburger Joint is the only restaurant in town. The above figure represents Ron's cost, demand, and marginal revenue curves. Ron operates as a single-price monopoly
a) How many hamburgers does Ron produce? b) What price does Ron charge for a hamburger? c) What is Ron's total revenue? d) What is his total cost? e) What is Ron's economic profit?