Multiple Choice
In the short run, changes in real GDP are primarily determined by changes in factor- utilization rates which, in turn, are due to changes in
A) aggregate demand only.
B) aggregate supply only.
C) aggregate supply because when firms increase prices they are then willing to produce more.
D) aggregate demand because increases in demand will lead to increases in output.
E) both aggregate demand and aggregate supply.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: In Canada, the labour- force participation rate
Q48: A characteristic of the short run in
Q49: Fiscal and monetary policies typically affect the
Q50: GDP can be represented by the equation:
Q51: The level of aggregate output is determined
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Q57: GDP can be represented by the equation: