The aggregate demand and aggregate supply graph has the
a. quantity of output on the horizontal axis. Output is best measured by real GDP.
b. quantity of output on the horizontal axis. Output is best measured by nominal GDP.
c. quantity of output on the vertical axis. Output is best measured by real GDP.
d. quantity of output on the vertical axis. Output is best measured by nominal GDP.
a
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It is widely known among baseball enthusiasts that Babe Ruth actually performed quite well as a pitcher before leaving the Boston Red Sox for the New York Yankees. He was also of course a famously successful hitter
Why do you believe the Yankees chose not to use him as a pitcher? Explain using economic reasoning. Hint: pitchers typically only play every third or fourth game whereas other players in other positions play in nearly every game. Baseball has a season of 162 games.
Suppose that a binding rent control law is repealed in San Francisco. As a result, we would expect the total number of units rented in the city to a. increase
b. decrease. c. remain unchanged. d. decrease, then increase.