The short-run aggregate supply curve is drawn with:
a. the price level on the vertical axis and real GDP on the horizontal axis
b. the price level on the vertical axis and nominal GDP on the horizontal axis.
c. nominal GDP on the vertical axis and real GDP on the horizontal axis.
d. real GDP on the horizontal axis and the rate of unemployment on the vertical axis.
a
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The sale of government securities by the Fed leads to
A) a decrease in bank reserves. B) a contraction in bank lending. C) a decrease in the monetary base. D) All of the above answers are correct.
Theresa opens a 5-year CD for $1,000 that pays 2% interest compounded annually. What is the value of the CD at the end of the 5 years?
a. $1,104.08 b. $1,100.00 c. $1, 020.00 d. $1,220.10
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
The Clayton Act outlawed tying contracts.
Answer the following statement true (T) or false (F)