A supply schedule is determined by the wishes of
A. sellers.
B. buyers.
C. sellers and buyers.
D. neither sellers or buyers.
A. sellers.
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An increase in the marginal cost of reducing greenhouse gas emissions will lead to lower air quality
a. True b. False
The net worth of a bank
A. determines the level of bank loans possible. B. is determined by subtracting liabilities from assets. C. is determined by subtracting assets from liabilities. D. can never be a negative value.
Relative price is the price of a specific good compared to ______.
a. the price index b. the rate of inflation c. the price of that good one year earlier d. the price of other goods
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.