What is the percentage of income received by the upper quintiles on line L?
65
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The dynamic aggregate demand and aggregate supply model accounts for the price level rising every year
Indicate whether the statement is true or false
According to the classical model, a 10-percent increase in the money supply, holding everything else constant, will lead to
a. a 10% increase in prices, a 10% increase in the real wage, and a 10% increase in interest rates. b. a 10% increase in prices, a 10% increase in the money wage, and a 10% increase in interest rates. c. a 10% increase in prices, a 10% increase in the money wage, and no change in interest rates. d. a 10% increase in prices and no change in the money wage or interest rates. e. none of the above.
When the Fed unexpectedly reduces the money supply, it will cause a decrease in aggregate demand because
a. real interest rates will rise, lowering business investment and consumer spending. b. the dollar will depreciate on the foreign exchange market, leading to an increase in net exports. c. lower interest rates will cause the value of assets (for example, stocks) to rise. d. the national debt will increase, causing consumers to reduce their spending.
If people are risk averse regarding environmental damages.
a. Low discount rates should be used b. High discount rates should be used c. Expected values will overstate ecological damages d. Irreversible actions should be taken e. They will generally approve of irreversible projects f. All of the above. g. None of the above.