Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result,
A) the price of sailboats increased and the demand for sailboats decreased."
B) the equilibrium quantity of sailboats increased."
C) the price of sailboats increased. The higher price caused the supply of sailboats to increase."
D) the price of sailboats increased and the quantity of sailboats demanded decreased."
D
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The Federal Reserve is considered by experts to be a government agency that is
A) totally independent from the rest of the federal government. B) semi-independent from the rest of the federal government. C) closely tied to Congress. D) subservient to the interests of large money-center banks.
A general sales tax is a unit tax placed on all retail sales
a. True b. False
When there is a recessionary gap, one is likely to see an increase in overtime work and more hours worked by part-time workers
a. True b. False Indicate whether the statement is true or false
When the price level in an economy falls, the demand for bonds and other nonmonetary financial assets rises
a. True b. False Indicate whether the statement is true or false