Most Social Security benefits go to people who are not poor
Indicate whether the statement is true or false
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The inside lags for monetary policy are relatively long compared to those for fiscal policy
Indicate whether the statement is true or false
In the extended classical model, an unanticipated increase in the money supply would cause output to ________ and the price level to ________ in the short run
A) increase; increase B) decrease; remain unchanged C) remain unchanged; increase D) decrease; decrease
Mary Ann and Don provide catering services in a perfectly competitive market. When they started in business, the going rate was $50 per person per meal. After the price increased to $60, they became willing to supply more meals. Their response to the price change is shown by
a. a rightward shift of the market supply curve b. a leftward shift of the market supply curve c. movement up along their firm's marginal cost curve d. movement down along their firm's marginal cost curve e. a rightward shift in their demand for jobs
A decrease in demand will cause a decrease in price, which will cause a decrease in supply
a. True b. False Indicate whether the statement is true or false