A positive demand shock may
a. cause an economy to operate at a point above potential GDP in the short run
b. increase potential output
c. be caused by relatively low employment levels
d. cause the price level to fall
e. be offset by falling wage rates
A
Economics
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If cross elasticity between two goods is zero, then the goods are
a. perfect substitutes b. perfect complements c. good but not perfect substitutes d. not considered to be substitutes e. good but not perfect complements
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Which of the following would be counted as investment in the national income accounts?
a. the purchase of a newly issued stock b. the purchase of a newly built apartment house c. the purchase of a newly minted coin d. the payment of tuition at a private college
Economics