A technological advance ________ the long-run aggregate supply curve and ________ the short-run aggregate supply curve
A) shifts; shifts
B) shifts; does not shift
C) does not shift; shifts
D) does not shift; does not shift
A
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As shown in the above table, Sam enjoys sailing and skiing equally well. Which of the following is TRUE?
A) Sam will not consume the same number of hours of sailing and skiing if the price per hour of sailing is more than that of skiing. B) If the prices per hour of sailing and skiing are the same, Sam will not spend the same number of hours at each activity. C) The marginal utility of the 3rd hour of either sailing or skiing is 120. D) None of the above is true.
The table below shows data (in millions) for Sun Trust Banks in September 2007 and September 2008. Suppose that the required reserve ratio is 3 percent
2007 2008 Loans $83 $78 Reserves $4 $5 Deposits $114 $95 The data show that Sun Trust ________ make more loans in 2007 and ________ make more loans in 2008. A) can; can B) can; cannot C) cannot; cannot D) cannot; can
Assume the required reserve ratio is 10 percent and the FOMC orders an open market sale of $50 million in government securities from member banks. If the oversimplified money multiplier is assumed, then the money supply will
a. increase by $500 million. b. increase by $100 million. c. decrease by $100 million. d. decrease by $500 million.
President Eisenhower considered his main economic task as _______________.
Fill in the blank(s) with the appropriate word(s).