Suppose an increase in government spending stimulates real GDP without affecting the price level. What is the relevant range of the aggregate supply curve in this case?
A. the classical range
B. the intermediate range
C. the Keynesian range
D. the monetarist range
Answer: C
Economics
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Refer to the production function. The average product at 5 units equals ________ units
Fill in the blank(s) with correct word
Economics
Which of the following statements is true about voting results if preferences are intransitive?
a. The result of voting never reflects majority preferences. b. It is impossible to predict the outcome when preferences are intransitive. c. The person who sets the agenda (sequence of votes) may be able to control the outcome. d. Only a Borda Count yields a unique result when preferences are intransitive.
Economics