Which of the following is consumed jointly?
A. A can of Coke.
B. A doughnut.
C. A missile shield.
D. A seat on an airplane.
Answer: C
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Real business cycle theory explains changes in employment and output by focusing on
A) changes in fiscal policy. B) real supply-side factors. C) the interaction of fiscal and monetary policies. D) changes in monetary policy.
Why does real GDP have limitations in determining economic welfare?
What will be an ideal response?
With an upward sloping LM curve, a falling interest rate __________ money demand, so that an expansionary monetary policy is __________ than in the case of a vertical LM curve
A) raises; stronger B) raises; weaker C) has no effect on; stronger D) has no effect on; weaker
Time lags in the design, authorization, and implementation of fiscal policy reduce its effectiveness.
Answer the following statement true (T) or false (F)