Normative analysis:
A. aims at determining only the economic consequences of a particular policy.
B. does not depend on the analyst's values.
C. addresses the question of whether a policy should be used.
D. focuses on the actual effects of a policy.
Answer: C
Economics
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In the Keynesian model in the long run, a decrease in the money supply will cause ________ in the real interest rate and ________ in the price level
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
Economics
The real wage
A) is the nominal wage divided by the price level. B) automatically increases with the cost of living. C) is the price level divided by the nominal wage. D) is the nominal wage multiplied by the price level.
Economics