The short-run aggregate supply curve (SRAS) is the amount of real GDP: ?
A. produced at various price levels.
B. ?produced at various savings rate levels.
C. purchased at various price levels.
D. ?purchased at various saving rate levels.
Answer: A
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In the figure above, with international trade ________ million shirts per year are produced in the United States
A) 48 B) 32 C) 16 D) 20
If the quantity of soccer balls demanded is represented by the demand equation QD = 80 - 2P, then to solve for the price of soccer balls, the equation would be rewritten as
A) P = 40 - 0.5QD. B) P = 1.6QD + 80. C) P = 80 - QD. D) P = QD + 160.
A GDP deflator of 112 means:
A. the overall price level is 12 percent higher than in the base year. B. the overall output increased by 12 percent since the base year. C. every price in the economy has gone up by 12 percent. D. the production of each good in the economy has increased by 12 percent.
If the interest rate is above its equilibrium value, the price of
a. bonds will fall b. real estate will rise c. bonds will rise d. stocks will fall because of fluctuations in the bond market e. money will rise