A change in the aggregate price level moves the economy along a given aggregate supply curve.
Answer the following statement true (T) or false (F)
True
Economics
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A sealed-bid auction is one in which ________
A) bidders do not know each other's bid B) bidders know each other's bid C) bidders place their bids one after another D) bidders cannot determine the price of the good
Economics
If the Fed were to raise the required reserve ratio,
A) excess reserves would decrease. B) excess reserves would increase. C) there would be no effect on the level of excess reserves. D) there would tend to be no effect on the nation's money supply.
Economics
Real GDP per capita in the United States grows over time.
Answer the following statement true (T) or false (F)
Economics
A utility possibilities frontier need not incorporate the utility of every individual.
A. True B. False C. Uncertain
Economics