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Author Question: Keynesian economists today favor a model in which the aggregate supply curve is relatively flat at ... (Read 55 times)

urbanoutfitters

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on: Jun 30, 2018
Keynesian economists today favor a model in which the aggregate supply curve is relatively flat at low levels of real GDP and slopes downward as real GDP approaches its potential level.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The government proposes a tax on flowers in order to boost its revenue. Consumers will bear no part of this tax if the:
 a. demand for flowers is perfectly inelastic.
  b. supply of flowers is perfectly elastic.
 c. demand for flowers is perfectly elastic.
  d. demand for flowers is unit elastic.


bfulkerson77

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Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

c


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