The concept of cost-push inflation cannot be explained by the aggregate expenditure model
a. True
b. False
Indicate whether the statement is true or false
True
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The price elasticity of demand measure is generally stated as an absolute value.
Answer the following statement true (T) or false (F)
The Laffer curve is
A. never referred to in modern day discussions of public finance. B. a curve that describes the relationship between tax rates and tax revenues. C. used to describe the relationship between consumption and hours worked. D. a curve that refers to the endowment of time.
Which of the following causes a leftward shift in the short-run aggregate supply curve? a. An increase of goods prices while nominal incomes are unchanged
b. An increase in nominal incomes (wages and salaries). c. An increase of full-employment real GDP. d. An increase of personal consumption expenditures while the price level is unchanged. e. An increase of personal consumption expenditures while full-employment real GDP is unchanged.
The __________ gives loans to medium-income, creditworthy countries, and the ________ gives aid to poorer countries.
A. IDA; UNDP B. IDA; IBRD C. IBRD; IDA D. UNDP; IBRD