The SRAS curve is ____ with real output levels that ____
a. upward sloping; vary positively with the price level
b. upward sloping; vary negatively with the price level
c. vertical; are equal to the natural level of real output at all price levels
d. vertical; can be either greater than or less than the natural level of real output
a
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Which of the following ideas reflect the Monetarist macroeconomic model?
i) The Monetarist model supports the Classical model, in general. ii) Decreases in the growth rate of the quantity of money trigger recessions. iii) Government intervention is an appropriate tool to steady the economy. A) i and ii B) ii and iii C) i only D) i, ii and iii E) i and iii
Which of the following would cause an increase in the equilibrium price and an increase in the equilibrium quantity of watermelons?
A) an increase in supply and an increase in demand greater than the increase in supply B) an increase in demand and an increase in supply C) a decrease in demand and an increase in supply D) an increase in supply