If supply of a product increases and demand for the product decreases, equilibrium price will definitely change.
Answer the following statement true (T) or false (F)
True
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An adverse supply shock that is permanent shifts which curve in addition to the curves shifted by one that is temporary?
A) The LM curve B) The IS curve C) The FE line D) The labor demand curve
In short-run equilibrium, the quantities supplied and demanded of Real GDP can be less than or greater than Natural Real GDP
Indicate whether the statement is true or false
If, in an economy, a $200 billion increase in consumption spending creates $200 billion of new income in the first round of the multiplier process and $150 billion in the second round, the multiplier and the marginal propensity to consume will be, respectively:
a. 4.00 and 0.75 b. 2.50 and 0.40 c. 3.33 and 0.70 d. 5.00 and 0.80
What is meant by a dominant strategy?
What will be an ideal response?