The present value of an annuity that pays $100 each year indefinitely (i.e., a perpetuity) is $2,000 if the interest rate is 5 percent

If a macroeconomic model consists of upward-sloping short-run aggregate supply and downward-sloping aggregate demand, can it possibly generate a constant real GDP with no business cycles over time?

A) No, only a vertical short-run aggregate supply curve can produce that result. B) No, only a horizontal short-run aggregate supply curve can produce that result. C) Yes, but the short-run aggregate supply curve must never shift. D) Yes, if the aggregate demand and short-run aggregate supply curves shift in perfect unison.

Voluntarism includes methods for dealing with pollution that

a. carry no legal authority. b. call the problems of pollution to the public's attention. c. involve trying to persuade polluters to reduce or eliminate pollution voluntarily. d. include all of the above.