If prices of goods and services are inflexible, then:
A.
A negative demand shock would lead to increased real GDP in the short run
B.
A positive demand shock would lead to increased real GDP in the short run
C.
A negative demand shock would have no short-run effect on real GDP
D.
There would be no short-run demand shocks
B.
A positive demand shock would lead to increased real GDP in the short run
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________ is considered a high income country, ________ a developing country, and ________ a newly industrializing country
A) Canada; France; Singapore B) Honduras; New Zealand; South Korea C) Japan; Hong Kong; South Korea D) United States; Somalia; Taiwan
According to the law of supply, price and quantity supplied are inversely related, ceteris paribus
a. True b. False Indicate whether the statement is true or false