Supply curves are usually upward sloping
Indicate whether the statement is true or false
True
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Which of the following correctly illustrates the leakages–injections approach to GDP?
a. DI + (NT) = C + I + G + (X ? M) b. S + C + NT = DI c. S + C + (NT) = I + G + (X ? M) d. S + (NT) + M = I + G + X e. S + (NT) = I + G + (X ? M)
Suppose that the economy experiences an increase in the inflation rate at the same time that the unemployment rate decreases. This situation indicates a:
a. shift in the Phillips curve. b. movement along a vertical Phillips curve. c. movement along a horizontal Phillips curve. d. movement along a positively-sloped Phillips curve. e. movement along a negatively-sloped Phillips curve.
If cross elasticity between two goods is zero, then the goods are
a. perfect substitutes b. perfect complements c. good but not perfect substitutes d. not considered to be substitutes e. good but not perfect complements
Since the wide spread acceptance of the Keynesian view during the 1960s,
What will be an ideal response?