A rise in the price level produces ________ the potential GDP line
A) a movement downward along
B) a leftward shift of
C) a rightward shift of
D) a movement upward along
E) neither a shift of the potential GDP line nor a movement along
D
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If a bank has $6 billion in reserves and loans $2 billion to another bank, then the total quantity of reserves demanded is:
A) $6 billion. B) $8 billion. C) $2 billion. D) $4 billion.
In a collusive agreement between two duopolists in an oligopoly, each firm has an incentive to cheat on the agreement because the firm's price
A) exceeds its marginal cost. B) exceeds its marginal revenue. C) is less than its average total cost. D) None of the above answers is correct.
The maximum price pipelines can charge for distributing gas:
a. is determined in a monopolistic market. b. depends on the market demand and supply. c. is set by the federal government. d. is always above the legal minimum.
The U.S. economy has never experienced deflation
a. True b. False Indicate whether the statement is true or false