Describe the effects, in both the short run and the long run, of an increase in the money supply. Explain what happens to real output and the price level
What will be an ideal response?
In the short run, an increase in the money supply increases output and has no effect on the price level. In the long run, an increase in the money supply has no effect on output and increases the price level.
Economics
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If the price of a good is below the equilibrium price,
What will be an ideal response?
Economics
What effect would each of the following government actions have on the steady-state growth rate of the standard of living? a. a decrease in income tax rates b. a doubling of the capital gains tax c. a growing budget deficit d
an increase in funding for research and development at public universities
Economics