Which of the following activities would occur in the product market?
a. Harry mows his grass.
b. General Motors hires additional workers to run a third shift at the factory.
c. Sam pays a speeding ticket.
d. Dolly buys a ticket to the ball game.
e. Jane bakes a pie for Thanksgiving dinner.
D
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The interest-rate-based transmission mechanism for monetary policy in the Keynesian system indicates that
A) decreases in the money supply lead to increases in the interest rate, which increases investment, which increases the level of real GDP. B) increases in the money supply cause people to spend more, leading to increases in real GDP. C) increases in the money supply lead to decreases in the interest rate, which decreases investment, which decreases the level of real GDP. D) increases in the money supply lead to decreases in the interest rate, which increases investment, which increases the level of real GDP.
As a person's wage rate increases, the substitution effect motivates an increase in work and the income effect motivates a decrease in work
Indicate whether the statement is true or false