The aggregate supply curve shows the relationship between the:
A. overall price level in the economy and total production by firms.
B. unemployment rate and total production by firms.
C. overall price level in the economy and the unemployment rate.
D. inflation rate and the overall price level in the economy.
A. overall price level in the economy and total production by firms.
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?Recently, there has been an increase in the market demand for products of firms in manufacturing industries. The production of many of these products requires the skills of welders. Because welding is a dirty and dangerous job compared with other? occupations, in recent years fewer people have sought employment as welders.
The Fed can decrease the money supply by conducting open-market
a. sales or by raising the discount rate. b. sales or by lowering the discount rate. c. purchases or by raising the discount rate. d. purchases or by lowering the discount rate.
The market supply is the ________ of the individual supplies of all the potential sellers
A) sum B) product C) square of the sum D) square root of the sum
When the Fed wants to undertake open market operations, it
A) buys or sells securities through the trading desk at the New York Federal Reserve Bank. B) can require all commercial banks to buy from or sell to it. C) can require all member banks to buy from or sell to it. D) buys from or sells to the U.S. Treasury.