If the price level in the current period is higher than what buyers and sellers anticipated,
a. profit margins will be unattractive and firms will expand output.
b. profit margins will be unattractive and firms will reduce output.
c. profit margins will be attractive and firms will expand output.
d. profit margins will be attractive and firms will reduce output.
C
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What important changes have occurred in the composition of the labor force since 1960? Is the popular image of the American worker as a factory worker accurate? Describe the types of jobs Americans are working in today.
What will be an ideal response?
The Clayton Act of 1914
A. outlawed all mergers. B. abolished the Sherman Act of 1890. C. outlawed specific business practices that discouraged competition. D. reduced the federal government's antitrust authority.
Which of the following best characterizes the current U.S. exchange rate policy?
A. A fixed exchange rate B. A crawling pegged exchange rate C. A freely floating exchange rate D. An adjustable pegged exchange rate
Which of the following institutions is responsible for supervising the banking system of the United States?
A. The Federal Reserve System B. The Open Market Committee C. The U.S. Treasury D. The Federal Deposit Insurance Corporation