Refer to the information provided in Figure 1.3 below to answer the question(s) that follow.
Figure 1.3Refer to Figure 1.3. The slope of the line between Points B and D is
A. -3.
B. -0.33.
C. 0.33.
D. 3.
Answer: D
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If the average interval between firms' price adjustments is relatively short
A) an increase in aggregate demand will cause a relatively short-lived increase in real GDP. B) an increase in aggregate demand will cause a relatively long-lived increase in real GDP. C) a reduction in aggregate demand will cause a relatively long-lived reduction in real GDP. D) both B and C
A leftward shift in the aggregate supply curve along a fixed aggregate demand curve will cause cost-push inflation
a. True b. False Indicate whether the statement is true or false
On a bank's T-account, which are part of the banks liabilities?
a. both deposits made by its customers and reserves b. deposits made by its customers but not reserves c. reserves but not deposits made by its customers d. neither deposits made by its customers nor reserves
Rapidly increasing health costs have been a major political concern since at least 1992. Suppose the government sets the maximum price for a normal doctor's visit at $20 to control rising health costs but the current market price is $40. What will happen?
A) Fewer people will try to see the doctor, and fewer doctors are willing to see patients at that price. B) More people will be able to see the doctor, since the price is lower. C) More people will try to visit the doctor, but there will be fewer doctors willing to see patients at that price. D) The same number of people will try to visit the doctor, and the same number of doctors are willing to see patients at that price.