The ________ curve is vertical
A) short-run aggregate supply
B) short-run aggregate demand
C) long-run aggregate supply
D) long-run aggregate demand
Answer: C
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In 2014, what percent of the population lived under the official poverty line in the United States?
A. 11.3 percent, down from a near all-time high of 14.8 percent in 2000. B. 14.8 percent, higher than a near all-time low of 3.11 percent in 2000. C. 14.8 percent, higher than a near all-time low of 11.3 percent in 2000. D. 11.3 percent, down from a near all-time high of 25 percent in 2000.
If the required reserve ratio in an economy is equal to 10 percent and Bank A receives $100,000 as deposits, then Bank A would _____ in order to make profits
a. keep $90,000 in reserves and loan out $10,000 b. keep $10,000 in reserves and loan out $90,000 c. keep the entire amount in reserves and charge a high fee on withdrawal d. loan out the entire amount at the prevailing rate of interest
Which of the following is a positive microeconomics statement?
A) The central bank should increase the nation's money supply. B) The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. C) Ford Motor Company's new advertising campaign ended up hurting General Motors's sales. D) The local government ought to spend more on recreational activities.
In 2007, investment in France increased by 7 billion euros. Which of the following occurs?
I. an upward shift in the AE curve II. a leftward shift in the AD curve III. an increase in the price level and real GDP in the short run IV. an increase in the price level and no change in real GDP in the long run. a) I, II, III, & IV b) I & III only c) I, II, & IV only d) III & IV only