In the Keynesian model in which the Keynesian short-run aggregate supply curve exists
A) the short-run aggregate supply curve determines real GDP.
B) the aggregate demand curve determines the price level.
C) unemployment cannot persist for long periods of time.
D) aggregate demand determines real GDP per year.
D
Economics
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A good is considered to be a public good if it
a. is a good produced by the government sector. b. is both nonrival-in-consumption and nonexcludable. c. benefits only a small group of consumers but is very costly to produce. d. is a good whose production is financed by tax revenue.
Economics
If factor markets are competitive, a profit maximizing firm should buy inputs where MRP is
A. inelastic. B. elastic. C. equal to the output price. D. equal to the input price.
Economics