A) Wages and prices are continuously falling
B) Wages and prices are “Sticky” downwards
C) Real GDP cannot be increased or decreased
D) Unemployment is relatively low
A) Wages and prices are continuously falling
B) Wages and prices are “Sticky” downwards
C) Real GDP cannot be increased or decreased
D) Unemployment is relatively low
A) Upward-sloping as real GDP Increases
B) Horizontal at GDP levels below full Employment
C) Based on the concept that all unemployment is voluntary
D) Downward-sloping as real GDP increases.
A) Velocity
B) Employment
C) what money will buy
D) The quantity of inputs
A) Firms cannot increase output
B) Firm are unwilling to increase output
C) Firms will increase output only if prices rise
D) Firms will increase output at the current price
A) MO
B) MP=OV
C) MV=PQ
D) MQ=GDP
A) Excess demand for wage increases by workers
B) Defence spending
C) Excess monetary growth
D) Wage and price control
E) None of these
A) Decrease output and lower prices
B) increase output and lower prices
C) Decrease aggregate supply
D) Shift aggregate supply to the left
A) A statement and Assumption
B) Hypothesis
C) Prediction
D) All of these
A) Unseen Govt Control of the Economy
B) Intangible goods produced in the Economy
C) The unseen coordination of market economics by the prices-system
D) None of these
A) Excess Demand
B) Excess Supply
C) A decrease in demand
D) A decrease in supply