The long-run aggregate supply line is:
A. upward sloping.
B. vertical at the economy's potential output.
C. vertical at the economy's actual output.
D. downward sloping.
Answer: B
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Given an annual interest rate of 12 percent, what is the present value of receiving $1,000 in 20 years?
A) $890.45 B) $850.23 C) $112.16 D) $103.67
Coins in the United States are manufactured and distributed by the: a. Federal Reserve
b. U.S. Mint. c. International Trade Administration. d. Federal Bureau of Investigation. e. Comptroller of the Currency.
The Federal Reserve
a. was created in 1913. b. is the U.S.'s central bank. c. has other duties in addition to controlling the money supply. d. All of the above are correct.
In a perfectly competitive industry, in the long run:
A. firms earn a positive economic profit. B. firms earn zero economic profit. C. firms earn a negative economic profit. D. firms might earn a positive, zero, or negative economic profit.