A statement issued by the president’s economic advisors stating that growth can continue without price increases indicates that they believe the relevant aggregate supply curve is
A. vertical.
B. horizontal.
C. downward sloping.
D. upward sloping.
Answer: B
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If the Fed reduces the supply of bank reserves, ________
A) investment increases B) consumption increases C) the federal funds rate increases D) the federal funds rate falls
The provision of the Patient Protection and Affordable Care Act (ACA) which states that, with limited exceptions, every resident of the United States must have health insurance that meets certain basic requirements is the ________ provision
A) regulation of health insurance B) state health insurance marketplaces C) individual mandate D) employer mandate
Which concept is best illustrated by the "prisoner's dilemma"?
a. product standardization b. interaction c. profit maximization d. marginal analysis e. average total cost
When a market is in equilibrium, excess demand and excess supply are zero
Indicate whether the statement is true or false