The factors of production include all goods and services produced in an economy.
Answer the following statement true (T) or false (F)
False
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An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
The In the News article titled "Men vs. Women: How They Spend" differentiates the spending habits of women and men: "Men spend almost twice as much as women do on electronic equipment … young women spend twice as much money on clothing, personal care items, and their pets." Which determinant of demand is most likely involved?
A. Other goods (availability and prices). B. Income. C. Tastes. D. Expectations.
Banks can obtain funds to make loans by borrowing reserves from other banks through the federal funds market
Indicate whether the statement is true or false
Firms in a monopolistically competitive market face ________ demand curves and earn ________ economic profits in the long run
A) downward sloping; zero B) downward sloping; positive C) horizontal; zero D) horizontal; negative