Expenditures on a nation's domestic production
a. are less than its domestic production.
b. are equal to its domestic production.
c. are greater than its domestic production.
d. could be less than, equal to, or greater than its domestic production.
b
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Explain the long-run consequences of continued increases in the money supply
What will be an ideal response?
At various points along the production possibilities frontier,
a. the greatest achievable output levels are illustrated b. resources are not fully employed c. more of one good can be obtained without giving up more of the other d. more efficient output levels are possible e. society is equally well off
A monopolist that maximizes total revenue earns maximum economic profit
a. True b. False Indicate whether the statement is true or false
If the dollar appreciates and the U.S. AD curve shifts leftward by an amount greater than the U.S. SRAS curve shifts rightward, then Real GDP will _____________________ and the price level will _____________________
A) decrease; decrease B) decrease; increase C) increase; decrease D) increase; increase