In the extended analysis of aggregate supply, the short-run aggregate supply curve is:
A. vertical and the long-run aggregate supply curve is horizontal.
B. horizontal and the long-run aggregate supply curve is vertical.
C. upsloping and the long-run aggregate supply curve is vertical.
D. horizontal and the long-run aggregate supply curve is upsloping.
C. upsloping and the long-run aggregate supply curve is vertical.
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The watershed approach
a. is a framework used to coordinate the management of each hydrologically defined area b. has been rejected by U.S. policy makers c. has received no financial support from the federal level of government d. does not allow for the use of water quality trading
If the government set a price ceiling of 50 cents for a gallon of gasoline, the most likely consequence would be
A. a surplus of gasoline. B. the demand for automobiles fall. C. shipping costs rise. D. a shortage of gasoline.
Which of the following is correct? Gross private domestic investment:
a. Includes government spending when it is for construction that will aid businesses. b. Includes investment spending to replace depreciated machinery. c. Includes stock and bonds. d. Excludes spending for new residential housing. e. All of the above are correct.
If the U.S. government determines that the cost of feeding an urban family of four is $7,500 per year, then the official poverty line for a family of that type is
a. $7,500. b. $15,000. c. $22,500. d. $30,000.