Which of the following economic variables is exogenous in the Three-Sector-Model?
a. Government spending on goods and services.
b. Real GDP.
c. GDP price index.
d. Quantity of the domestic currency per time period.
e. None of the above.
.A
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All the following are assumptions of the classical model EXCEPT
A) pure competition exists. B) buyers and sellers react to nominal money prices rather than to relative prices. C) wages and prices are flexible. D) people are motivated by self-interest.
Demand for U.S. dollars by speculators is likely to increase if the dollar is expected to depreciate in the near future
a. True b. False Indicate whether the statement is true or false
Trace the effects on the money supply when the Fed decreases the discount rate
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.