In the loanable funds market model, the demand curve represents:
a) borrowers.
b) taxes.
c) savers.
d) the budget balance.
Ans: a) borrowers.
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One reason that the aggregate demand curve has a negative slope is that when the domestic price level rises,
A) firms produce more goods and services. B) firms produce fewer goods and services. C) people substitute toward more imported goods and services. D) peoples' wealth increases.
The Federal Reserve (Fed) was created by the Congress as an independent agency
a. True b. False Indicate whether the statement is true or false
If the government of a country decides to cut the tax rates, there will be a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.
If the marginal cost were $13, how many units of output would this firm produce?
A. 1
B. 2
C. 3
D. 4