Individuals are forced to make choices because
a. wants are unlimited.
b. the supply of resources is infinite.
c. wants are unlimited and resources are scarce.
d. resources exceed wants.
c. wants are unlimited and resources are scarce.
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In the classical model, how do shifts in aggregate demand affect real GDP?
A) Real GDP will remain unchanged. B) Increases in aggregate demand increase real GDP. C) Increases in aggregate demand decrease real GDP. D) Decreases in aggregate demand increase real GDP.
If the investment curve is relatively vertical, the Keynesian conclusion is that the transmission mechanism has little effect on the economy
a. True b. False Indicate whether the statement is true or false
A Nash equilibrium refers to a:
A. cooperative game. B. a sequential game. C. a noncooperative game. D. a repeated game.
Expansionary monetary policy is always expected to increase:
A. real income but never nominal income. B. real income. C. nominal income. D. nominal income but never real income.