Which of the following are capital goods?
a. land and raw materials
b. all manufactured goods
c. automobiles and houses
d. factories and machinery
e. all goods consumed by both firms and households
D
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Explain the differences between a change in supply and a change in quantity supplied
What will be an ideal response?
Affirmative action laws require employers to search for qualified minority applicants, but not to necessarily give them jobs
a. True b. False Indicate whether the statement is true or false
Refer to Scenario 7.3 below to answer the question(s) that follow. SCENARIO 7.3: Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $60,000 annually. Last year you earned a total revenue of $100,000. Rent and supplies last year were $50,000. Refer to Scenario 7.3. Your annual operating profit is
A. -$10,000. B. $40,000. C. $50,000. D. $100,000.
Monetary policymakers can respond to the impact that positive inflation shocks have on output by shifting the:
A. short-run aggregate supply curve to the left. B. monetary policy reaction curve right. C. monetary policy reaction curve left. D. short-run aggregate supply curve to the right.