If the economy is currently in a recessionary gap, the SRAS curve intersects the AD curve to the left of Natural Real GDP
Indicate whether the statement is true or false
True
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Higher inflation
a. causes firms to change prices less frequently and makes relative prices less variable. b. causes firms to change prices less frequently and makes relative prices more variable. c. causes firms to change prices more frequently and makes relative prices less variable. d. causes firms to change prices more frequently and makes relative prices more variable.
A corporation’s authority to act and its liability for those actions is, with respect to the firm’s owners,
a) proportional. b) one and the same. c) joint and several. d) separate and apart.
In the last few decades there has been little progress in lowering the barriers to international trade
Indicate whether the statement is true or false
A one-year Treasury bill with a face value of $1,000 and an annual yield of 5 percent sells for approximately
A) $1,005. B) $995. C) $952. D) $948.