Within the aggregate demand-aggregate supply framework, monetarists argue that a change in aggregate:
A. Demand will have a large effect on the price level, but a temporary effect on output
B. Demand will have a small effect on the price level, but a permanent effect on output
C. Demand will have a large effect on the price level and a large effect on output
D. Supply will have a large effect on the price level, but a temporary effect on output
A. Demand will have a large effect on the price level, but a temporary effect on output
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Which of the following statements concerning utility is correct?
a. It is possible to precisely measure the utility an individual receives from consuming a particular good or service b. It is always possible to determine whether Dalene or Juloy gets more utility from consuming two units of the same good c. The utility of goods can be measured while the same is not true for services d. Utility is a subjective measure of satisfaction an individual receives from consuming a good or service e. It is only useful if there is no scarcity
Exit from a market will stop when
A) accounting losses are zero. B) the cost of capital is equal to the risk-free rate of return. C) economic losses are zero. D) none of these choices.