The Keynesian short-run aggregate supply curve
A. is upward sloping.
B. is horizontal.
C. is vertical.
D. is downward sloping.
Answer: B
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Answer the following statements true (T) or false (F)
1. The U.S. economy is a mixture of perfect and imperfect competition and regulated and non regulated industries. 2. Self -interest is a major tenet of economic liberalism. 3. Laissez-faire is a policy of government nonintervention in the economy. 4. Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses.
Which of the following statements is true of members of an organization?
a. They are either principals or subordinates. b. Agents are closely monitored by principals at all times. c. Each member generates information for the use of others in the organization. d. Decision-makers decide on the basis of the information they generate themselves.
Which of the following is not true about a production possibilities curve? It indicates
a. what combinations are attainable and unattainable b. efficient combinations of the goods produced c. which combinations are inefficient d. which combinations of goods and services can be produced e. the actual combination produced
On a steeply sloped aggregate supply curve, monetary policy will affect primarily output
a. True b. False Indicate whether the statement is true or false