When GDP is less than total spending, GDP will fall
a. True
b. False
Indicate whether the statement is true or false
True
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Congress authorized a second Bank of the United States partly in response to:
A) difficulty in funding the American Revolution B) difficulty in funding the War of 1812 C) difficulty in funding the Industrial Revolution D) difficulty in funding the Civil War
Compare and contrast the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve. What elements do they have in common? What elements differ between them?
What will be an ideal response?
If prices are inflexible, monetary policy:
A. doesn't affect real output or inflation. B. affects real output but not inflation. C. affects inflation but not real output. D. affects both inflation and real output.
Even though 80,000 individuals in the United States wait for kidney transplants and, for a price, there are many individuals who would be willing to supply a kidney (a healthy person can donate one kidney without any problems), it remains illegal to buy and sell organs in the United States. A market for kidneys does not exist because of:
A. social forces. B. market forces. C. economic forces. D. political forces.