In the modern Keynesian model, over much of its range the short-run aggregate supply (SRAS) curve is

A) horizontal.
B) vertical.
C) upward sloping.
D) downward sloping.

C

Economics

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According to Keynes, once a system attains an economy-wide equilibrium

A) planned investment will be zero. B) there may or may not be excess productive capacity. C) the economy will be at full productive capacity. D) planned consumption will be zero.

Economics

Refer to Scenario 12.1. Suppose that a third friend, Ryan, joins Simon and Paula on their way home from school, and this reduces the probability of any particular individual from stepping forward to help the man being attacked from 70% to 40%

What is the probability of either Simon, Paula, Ryan, or any combination of the three trying to rescue the man? A) 28.8% B) 49.6% C) 78.4% D) 93.6%

Economics