When the U.S. price level decreases, we would expect a:
A. movement up along the aggregate supply curve.
B. movement down along the aggregate demand curve.
C. shift to the right of the aggregate demand curve.
D. shift straight up of the aggregate demand curve.
Answer: B
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Use the figure below to answer the following question:
In the graph above, what is the price elasticity of supply (using the midpoint formula) between points A and B?
A. 3 B. 1/3 C. 2 D. 1
The Fed's lender-of-last-resort function
A) has proven to be ineffective. B) cannot prevent runs by large depositors. C) is no longer necessary due to FDIC insurance. D) creates a moral hazard problem.
Credit card companies that operate as intermediary firms between credit card holders and business vendors are best described as
A) platforms in a shared-input market. B) end users in a shared-input market. C) platforms in a transaction-based market. D) end users in a transaction-based market.
What was not one of the Constitutional compromises about slavery?
a. Limited the importation of slaves to 20 years b. Northern states had to abide by the Southern states' slavery laws c. Prevented imported slaves from being taxed d. Slaves counted a 60% of a person for congressional representation