According to the policy irrelevance proposition, real Gross Domestic Product (GDP) is determined by
A) the economy's long-run aggregate supply curve.
B) a combination of fiscal policy and monetary policy.
C) the rate of inflation only.
D) the economy's aggregate demand curve.
A
Economics
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One of the long-run effects of higher government budget deficits is
A) a redistribution of real Gross Domestic Product (GDP) away from government-provided goods and toward more privately provided goods. B) an increase in the government's share of the nation's economic activity. C) growth in the economy's private sector at the same time the government sector shrinks. D) a fall in the equilibrium price level.
Economics
Ch1. Because information is costly to acquire, how does the cost change decision making?
What will be an ideal response?
Economics