In the upward-sloping segment of the aggregate supply curve,
a. when GDP increases, the price level rises.
b. when GDP increases, the price level does not change.
c. when GDP decreases, the price level rises.
d. when GDP increases, the price level falls.
e. there is no relationship between changes in GDP and changes in the price level.
a
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If the United States has a $300 billion trade deficit, then there must be:
A. net capital inflows of $300 billion. B. net capital outflows of $300 billion. C. net capital inflows of -$300 billion. D. no capital inflows or capital outflows.
The more elastic the demand for a good, the
A) less a sales tax lowers the price paid by buyers. B) more a sales tax lowers the price paid by buyers. C) less a sales tax raises the price paid by buyers. D) more a sales tax raises the price paid by buyers.
The speculative demand curve for money is:
a. downward sloping. b. upward sloping. c. vertical. d. horizontal. e. spiral.
Neo-Keynesians believe that the inverse relationship between rates of unemployment and rates of inflation is causal
Indicate whether the statement is true or false