If the demand for recycled plastic is specified as QD = 100 – 2.5P, the slope of demand,as conventionally graphed, is
a. –2.5 b. –0.4 c. +100 d. none of the above
b. –0.4
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The Keynesian short-run aggregate supply curve
A) reflects the fact that real GDP is supply-determined. B) reflects the fact that real GDP does not vary with changes in aggregate demand. C) is vertical. D) is horizontal.
The figure above shows a firm in a perfectly competitive market. The firm's supply curve is the curved line linking
A) point a to point c and stopping at point c. B) point b to point d and continuing on past point d along the MC curve. C) point b to point f and stopping at point f. D) point c to point e and continuing on past point e along the ATC curve.
Comment on the following statement: "I decided to buy a car from a dealer in a town 100 miles away because he was offering a price that was $100 lower than the dealer in my hometown. Therefore, I saved $100"
What will be an ideal response?
At the time of its founding, which tool was thought to be the most useful for the Fed?
a. changing the reserve requirement b. altering deposit interest rates c. lending to banks d. open market operations