A vertical aggregate supply curve implies __________ Phillips curve
A) an upward-sloping
B) a downward-sloping
C) a vertical
D) a horizontal
C
You might also like to view...
Examining U.S. business cycles over time reveals that they ________
A) occur at regular intervals B) are of uniform duration C) are of similar magnitude D) all of the above E) none of the above
Mika borrows $100,000 to start up her own beauty shop. She pays 5 percent interest on her loan. In order to account for all costs of her business, Mika must not forget:
A. the implicit cost of $100,000. B. the implicit cost of $5,000. C. the explicit cost of $105,000. D. the explicit cost of $5,000.
A Texas oil company extracts petroleum and sells it to a refinery for $1,000 . After processing, the refinery sells the gasoline to a wholesaler for $1,500, who then sells it to a gas station for $1,700 . The gas station sells it to customers for $2,500 . In these transactions, how much has been added to GDP?
a. $1,000 b. $1,500 c. $1,700 d. $2,500 e. $6,700
Member banks of the Federal Reserve System
a. advise the Fed on monetary policy. b. are immune from the effects of monetary policy. c. vote on members of the Board of Governors. d. have little control over the system they "own."