In the Keynesian view of macroeconomic equilibrium during a depression, aggregate demand and aggregate supply intersect
A. in the horizontal segment of the aggregate supply curve.
B. in the horizontal segment of the aggregate demand curve.
C. in an upward-sloping segment of the aggregate supply curve.
D. in the vertical segment of the aggregate supply curve.
A. in the horizontal segment of the aggregate supply curve.
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Along an indifference curve
A) the marginal rate of substitution is constant but not equal to zero. B) the consumer does not prefer one consumption point to another. C) the marginal rate of substitution is equal to 0. D) the consumer prefers some of the consumption points to others.
Which of the following statements is TRUE?
A) Both wealth and income measure variables over a period of time. B) Wealth measures a variable at a point in time and income measures a variable over a period of time. C) Wealth measures a variable over a period of time, and income measures a variable at a point in time. D) Both wealth and income measure variables at a point in time.