The more nearly horizontal the aggregate supply curve, the
A) greater the change in Real GDP for a given change in autonomous spending.
B) smaller the change in Real GDP for a given change in autonomous spending.
C) larger the multiplier.
D) smaller the multiplier.
E) a and c
A
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If there is an increase in the amount of currency held outside banks, then the
A) quantity of money and the monetary base will decrease. B) monetary base will decrease. C) quantity of money will increase. D) quantity of money will not change. E) quantity of money will decrease.
Over the long term, the ultimate determinant of the price of a depletable resource is the
A) extraction cost. B) user cost. C) demand. D) availability of substitutes. E) cost of finding new reserves.
A bagel cost $1 in New York and 0.5 euros in Paris. If the real exchange rate is one-half of a New York bagel for a Parisian bagel, how many euros should you receive in exchange for one dollar?
A. 1.5 B. 0.1 C. 2 D. 0.25
Participating nations in the 1997 Kyoto Protocol agreed to reduce overall greenhouse gases emission through 2020 to
A) as much as 20 percent below the levels in the 1990s. B) as much as 5 percent below the levels in the 1990s. C) as much as 50 percent below the levels in the 1970s. D) as much as 80 percent below the levels in the 1960s.