A decrease in aggregate supply means:
A. Both the real domestic output and the price level would decrease
B. The real domestic output would increase and rises in the price level would become smaller
C. The real domestic output would decrease and the price level would rise
D. Both the real domestic output and rises in the price level would become greater
C. The real domestic output would decrease and the price level would rise
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The distinctive characteristic of an oligopolistic market structure is that there are recognizable interdependencies among the decisions of the firms
a. true b. false
Economics is the study of how:
a. humans make decisions in the face of scarcity. b. resources are used to meet human needs. c. humans make decisions when there is an abundance of goods. d. human needs translate to business transactions.
Refer to the data. The budget deficit in year 3 is:
Answer the question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt.
A. $175 billion.
B. $3,050 billion.
C. $100 billion.
D. $295 billion.
Brokerage commissions:
A. are always a percentage of the amount of the trade. B. can differ reflecting the different services being offered. C. can vary but typically don't because firms tend to set them at the same levels. D. are set by government regulators so they cannot vary across firms for the same services.