If the short-run aggregate supply curve is positively sloped and the Fed increases the money supply, aggregate demand _____
Fill in the blank(s) with the appropriate word(s).
increases, which increases real GDP and the price level.
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The difference between the exchange value of a money and its cost of production is defined as
A) seigniorage. B) net value. C) net exchange profit. D) the face value.
The economy of North Korea would best be classified as:
A. a command system. B. a capitalist economy. C. a market system. D. a laissez-faire economy.
In the Staples/Office Depot Case, the government:
A. blocked a merger. B. allowed a merger but regulated the resulting firm. C. allowed a merger and did not regulate the resulting firm. D. prosecuted the two firms for collusion.
If demand increases, the increase in price will be smaller if demand and supply are highly inelastic.
Answer the following statement true (T) or false (F)