The short-run aggregate supply curve (SRAS) is the amount of real GDP:
a. produced at various price levels.
b. produced at various savings rate levels.
c. purchased at various price levels.
d. purchased at various saving rate levels.
a
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The EPA’s database of identified environmental hazards is known by the acronym
a. IRIS c. RISK b. ISIS d. IPCC
Gary consumes 10,000 units of electricity when his income is $500. When his income increases to $1,000, his consumption of electricity increases to 18,000 units. What is Gary's income elasticity of demand for electricity?
A) 0.5 B) 0.8 C) 1.8 D) 2
The institution of private property is supported by clear claims to ownership.
Answer the following statement true (T) or false (F)
Which of the following would not be studied in macroeconomics?
A. How a sharp increase in gasoline prices is likely to affect SUV sales. B. The causes of the Great Depression. C. The growth rate of the US economy. D. The impact of government spending on the economy.