Multiple Choice
If both the price level and nominal incomes change by the same percentage:
A) real GDP will remain constant.
B) the aggregate supply curve will be upward-sloping.
C) profit margins will change in real terms.
D) the long-run aggregate supply curve will be horizontal.
Correct Answer:
Verified
Correct Answer:
Verified
Q15: Exhibit 6A-3 Consumer equilibrium<br><br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt="Exhibit 6A-3
Q16: Exhibit 1A-4 Straight line<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt="Exhibit 1A-4
Q17: Along the short-run aggregate supply curve
Q18: Consumer surplus:<br>A) does not exist in equilibrium.<br>B)
Q19: Distinguish a direct and an inverse relationship.
Q21: Exhibit 1A-10 Multi-curve graph<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt="Exhibit 1A-10
Q22: Long-run full-employment equilibrium assumes:<br>A) a downward-sloping production
Q23: Beginning from full-employment macro equilibrium, increase
Q24: Assume the economy is experiencing an
Q25: Exhibit 6A-5 Consumer Equilibrium<br><br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt="Exhibit 6A-5