If output and inflation are unrelated in the long run, the long-run aggregate supply curve must be:
A. horizontal.
B. upward sloping.
C. non-existent.
D. vertical.
Answer: D
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Which of the following statements is true?
A) The marginal entrant in a market earns the highest profit. B) The marginal entrant has the lowest cost among all firms in the market. C) Difference in technology and experience can lead to firms having non-identical costs even under perfect competition. D) In a market that has identical cost structures for all firms, there is possibility of positive economic profits in both the short run and the long run.
The Safe Drinking Water Act Amendments of 1996
a. govern U.S. water quality today b. established the Drinking Water State Revolving Fund (DWSRF) c. call for setting drinking water standards that are solely benefit based d. all of the above e. (a) and (b) only
Which of the following statements is true about bonds?
A) Buyers of newly issued bonds are borrowers. B) When the government and large corporations want to borrow money they buy bonds. C) A bond owner must hold a bond until it matures. D) The interest rate on a bond is inversely related to its price.
Which of the following explains why private employers (more frequently than public employers) have tended to shift away from defined benefit programs?
A. Their employees have begun to reduce the amount they shift from one employer to the next. B. Their employees have more frequently fallen victim to Ponzi schemes. C. Their employees have begun to increase the amount they shift from one employer to the next. D. People have begun to create well-funded private savings plans.