Say's law explains
A) how long-run real Gross Domestic Product (GDP) stability is achieved in the Keynesian model.
B) why economies experience business cycles.
C) how the economy can go into recession.
D) how long-term real Gross Domestic Product (GDP) stability is achieved in the classical model.
D
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Which of the following is prerequisite of successful market economies?
A. the existence and enforcement of property rights B. a tax system that redistributes income from the rich to the poor C. the ability of the government to appropriate economic profits beyond a certain amount to ensure equality in income distribution D. a military presence to ensure political freedom
Calculate the real money supply growth rate when the nominal money supply increases by 10% and the price level increases by each of the following percentages: a) 2%; b) 8%; c) 10%; d) 15%
What will be an ideal response?