The level of long-run real GDP that producers are willing and able to supply ______.
a. varies inversely with the price level
b. increases with increasing price level
c. is not affected by changes in the price level
d. decreases with increasing price level
c. is not affected by changes in the price level
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Credit cards are a popular means of payment. Why are credit card accounts not included in M1 or M2? Are credit cards of no relevance to these money measures?
What will be an ideal response?
Samuel Slater is most recognized for:
a. inventing the cotton gin. b. inventing the telegraph. c. lobbying the government for the abolition of slavery. d. playing an integral role in developing the first American factory.
Households receive bonds when they loan money directly to a firm.
Answer the following statement true (T) or false (F)
The total market value of all final goods and services produced by resources owned by a country, regardless of where production takes place is
A. national income. B. gross domestic product. C. gross national product. D. gross private domestic investment.