If money demand is not responsive to changes in interest rates, then
a. the LM curve is vertical.
b. the IS curve determines equilibrium output.
c. the LM curve will become horizontal.
d. the LM curve will become vertical.
e. a and b.
A
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Refer to Figure 13.2. Oliver's political views place him at the L4 position and George's political views place him at the C4 position
Based on the two candidates' political views, Sam Butcher decides to enter the race as a third-party candidate and he espouses political views that place him at the M position. For George to now win the election, he will have to A) stay at the C4 position. B) move to the M position. C) move to the C1 position. D) move to the L4 position.
"When a person has an absolute advantage in producing a good, the person necessarily has a lower opportunity cost of producing it." Is this assertion correct or incorrect? Explain your answer
What will be an ideal response?