GDP does not directly include:
a. the value of final goods and services produced, but not sold, during a period.
b. the value of services rendered during a period
c. the value of intermediate goods sold during a period.
d. any of the above.
c
Economics
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According to which of the following models are economic agents assumed to have perfect information?
a. The new classical model b. The classical model c. The monetarist model d. The Keynesian model
Economics
Based on our understanding of the IS-LM model that takes into account dynamics, we know that a reduction in the money supply will cause
A) an immediate drop in Y and immediate increase in i. B) an immediate increase in i and no initial change in Y. C) a gradual increase in i and gradual reduction in Y. D) none of the above
Economics