An aggregate supply curve that is a vertical line must be:
A. a short-run curve.
B. a long-run curve.
C. an individual firm's supply curve.
D. an individual industry's supply curve.
B. a long-run curve.
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Based on the data in the table above, what is the value of M1?
A) $2,950 billion B) $1,361 billion C) $752 billion D) $609 billion
The basic forces driving the "invisible hand" are
a. government and business. b. information and computer technology. c. competition and self-interest. d. cooperation and altruism.
Fundamentally, economics deals with
a. scarcity. b. money. c. poverty. d. banking.
In the actual economy, goods and services are purchased by
a. households, but not firms or the government. b. households and firms, but not the government. c. households and the government, but not firms. d. households, firms, and the government.