Multiple Choice
An increase in aggregate demand will have a smaller long-run effect on real GDP if the:
A) aggregate demand curve is flat.
B) short-run aggregate supply curve is horizontal.
C) economy is well below potential output.
D) economy is already at potential output.
E) aggregate demand curve is fairly steep.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The figure given below shows short run
Q3: The velocity of money is defined as:<br>A)the
Q4: If the Fed increases the money supply,then:<br>A)the
Q5: In an economy in which velocity is
Q6: According to the equation of exchange,if real
Q8: In the short run,a decrease in the
Q9: Planned investment expenditures will eventually decrease after:<br>A)the
Q10: The figure given below shows the interest
Q11: If the Fed sells U.S.government securities in
Q12: If the Fed sells U.S.government securities to