Identify how a demand schedule translates to a demand curve (graph)
What will be an ideal response?
A demand curve is a graphic representation of a demand schedule. All demand graphs show that each pair of price and quantity-demanded numbers on the demand schedule is plotted as a point on the graph. Connecting the points on the graph creates a demand curve.
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The Federal Reserve Act of 1913 required that
A) state banks be subject to the same regulations as national banks. B) national banks establish branches in the cities containing Federal Reserve banks. C) national banks join the Federal Reserve System. D) state banks could not join the Federal Reserve System.
Monopolies are always large firms with great economies of scale
a. True b. False Indicate whether the statement is true or false
An appreciation of the currency is likely to occur if:
(a) Domestic interest rates fall. (b) There is an increase in demand for imports. (c) There is an increase in demand for exports. (d) There is an increase in the balance of payments deficit.
GDP expressed in constant, or unchanging, prices is called -
a. net national product b. real GDP c. price level d. nominal GDP