This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is true of Simple Keynesian model? a. Price level increases with an increase ... (Read 67 times)

audragclark

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Which of the following is true of Simple Keynesian model?
 a. Price level increases with an increase in aggregate demand.
 b. The aggregate supply curve is assumed to be perfectly inelastic.
  c. The aggregate demand curve is assumed to be perfectly elastic.
  d. Price level is solely determined by the aggregate demand curve.
  e. Changes in aggregate demand determines equilibrium real GDP.

Question 2

The price of stadium seats at a baseball game increases from 20 to 30 and ticket sales fall from 45,000 per game to 35,000 per game. If other things remained constant, then it appears that the price elasticity of demand is:
 a. elastic.
 b. inelastic.
 c. unit elastic.
 d. unit inelastic.
  e. equal to zero.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mathjasmine

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


audragclark

  • Member
  • Posts: 579
Reply 2 on: Jun 30, 2018
Excellent

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Atmospheric pressure decreases as altitude increases. Atmospheric pressure decreases as altitude increases.
Urinometer. In this procedure, a urine sample and urinometer are placed within a tube, and the liqui Urinometer. In this procedure, a urine sample and urinometer are placed within a tube, and the liqui
The proportion of men and women with elevated blood pressure or taking hypertension medication incre The proportion of men and women with elevated blood pressure or taking hypertension medication incre
Level II HCPCs Codes Level II HCPCs Codes
Adding additional amounts of ethyl alcohol (ethanol) increases the frequency reading. Adding additional amounts of ethyl alcohol (ethanol) increases the frequency reading.
A Model of Surface Dyslexia A Model of Surface Dyslexia
Video: Oxygen - hemoglobin dissociation curve & Hemoglobin's affinity with oxygen - acidity

For a complete list of videos, visit our video library