When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, the long-run aggregate supply curve
A) slopes upward.
B) slopes downward.
C) is vertical.
D) is horizontal.
C
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When playing a game in which players are in direct competition with one another, it is best to ________ a pure strategy because the strategy is ________
A) use; predictable B) use; unpredictable C) avoid; predictable D) avoid; unpredictable
An initial deficiency in reserves of $20 and a required reserve ratio of .5 lead to a maximum demand deposit contraction of
A) $8. B) $40. C) $50. D) $80.
The key to a successful positive signal is that:
A. it is costly to fake. B. it is hidden information. C. it builds trust between the principal and the agent. D. All of these statements are true.
In the short run, there is a positive relationship between: a. inflation and unemployment
b. inflation and real GDP. c. the actual price level and the aggregate quantity supplied. d. the actual price level and unemployment. e. the actual price level and consumption spending.