Keynes suggested that the short-run aggregate supply (SRAS) curve
A) is vertical.
B) is horizontal.
C) slopes downward.
D) is not a relevant concept.
B
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Saving is like:
A. selling the right to use your money for a time. B. buying the right to use someone else's money. C. selling the right to use someone else's money. D. buying the right to use your money for a time.
Firms may be tempted to cheat on cartel agreements by: a. raising both price and output
b. lowering both price and output. c. raising price and reducing output. d. lowering price and increasing output.
A good which is nonexcludable and nonrival is called:
a. a public good. b. a marketable good. c. a private good. d. a consumer good.
A reserve requirement of 20 percent means a bank must have $1,000 of reserves if its checkable deposits are:
A. $100. B. $1,000. C. $5,000. D. $12,000.