In a closed economy, which of the following equations reflects investment? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y - T + TR B) Y - C - T C) C + G -T D) Y - C - G
D
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Imperfectly competitive firms have a demand curve that ________ and a marginal revenue curve that ________ and is ________ the demand curve
A) slopes downward; slopes downward; below B) is horizontal; is horizontal; the same as C) slopes downward; is horizontal; above D) is horizontal; slopes downward; below E) slopes downward; slopes downward; the same as
Which of the following statements is correct?
a. The classical aggregate AD curve can be shifted by monetary and non-monetary factors. b. The classical AS schedule is horizontal while the Keynesian aggregate AS schedule is vertical. c. The Keynesian AD curve only shifts in response to monetary factors. d. The classical aggregate supply schedule slopes upward to the right while the Keynesian aggregate supply schedule is vertical. e. none of the above are correct.