If there is an increase in the price level in the classical model,
a. the equilibrium level of output will remain unchanged.
b. real wages remain constant.
c. money wages will rise proportionally.
d. all of the above.
D
Economics
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The Board of Governors has
A) seven members appointed to 14-year terms. B) 14 members appointed to 10-year terms. C) four members appointed to seven-year terms. D) 14 members appointed to four-year terms. E) seven members appointed for life.
Economics
Suppose that steel produced this year is used to produce a car sold next year. The value of the steel ________ included in GDP this year as ________
A) is; an intermediate good B) is not; an intermediate good C) is; an adjustment to inventories D) is not; an adjustment to inventories
Economics