Writing in the 18th century, Adam Smith downplayed technology as a factor contributing to a nation's economic growth
Indicate whether the statement is true or false
F
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In the short run, the competitive firm will hire more labor if
A) the wage rate increases. B) the price the firm receives for the output increases. C) the price the firm receives for the output decreases. D) a specific tax is imposed on the output.
You deposit a $1,000 scholarship check in the bank. If the required reserve ratio is 10 percent, explain how the banking system will create new money and how much money can potentially be created
If the interest rate on treasury bills is higher than the monetary policy rate, the quantity of overnight loans supplied ______ and the _______ for treasury bills increases.
A. Decreases; demand B. Decreases; supply C. Increases; demand D. Increases; supply
The effect of an increase in aggregate supply is a(n):
A. increase in the general level of prices and a decrease in real output. B. increase in the general level of prices and an increase in real output. C. decrease in the general level of prices and a decrease in real output. D. decrease in the general level of prices and an increase in real output.