The Okun’s law shows the relationship between

Assume a closed economy. Y, C, I, T, and G represent GDP, consumption, investment, taxes , and government spending. If Y=C+I+G, T=I=G=10, and C=10+0.5*(Y-T), equilibrium GDP is

Which of the following best defines the real interest rate (r)?

If the government levies a specific tax on tobacco producers, the spending of consumers will probably

Of the following, the most often used measure of changing living standards is

Which of the following is the definition for the real supply of money?

The cross price elasticity of demand between two goods will be positive if

Suppose there is a fiscal contraction. Which of the following is a complete list of the variables that must decrease?

Suppose there is a fiscal contraction. Which of the following is a complete list of the variables that must decrease?

Assume a closed economy. Y, C, I, T, and G represent GDP, consumption, investment, taxes , and government spending. If Y=C+I+G, T=I=G=10, and C=10+0.5*(Y-T), equilibrium GDP is