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Hello: I need help with the following questions: Question 1: Based on our understanding of the income-spending model, we know with tainty that an equal
Hello: I need help with the following questions:
Question 1:
Based on our understanding of the income-spending model, we know with tainty that an equal and simultaneous increase in G and T will cause: ) a. an increase in output ) b. no change in output ) c. a decrease in output ) d. ambiguous effect in output change. '. Which of the following statements is true? D a. According to Okun's Law, to prevent unemployment from rising, the nominal GDP has to grow at an annual rate of 2% D b. According to Okun's Law, to prevent unemployment from rising, the real GDP has to grow at an annual rate of 3% D c. According to Phillips curve, to prevent unemployment from rising, the nominal GDP has to grow at an annual rate of 3%. D d. According to Okun's Law, to prevent unemployment from rising, the real GDP has to grow at an annual rate of 2.5%. i. If MRPL > W, the rm should D a. buy more capital 3 b. layoff some labor 3 c. hire more labor D d. buy more capitalStep by Step Solution
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