The long-run aggregate supply (LAS) curve
A) has a positive slope.
B) has a negative slope.
C) is vertical.
D) is horizontal.
C
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If you lived in Jamaica, you would know that Jamaican NNP less indirect business taxes in Jamaica equals Jamaican
a. GNP b. NNP c. personal income d. personal disposable income e. national income
Because a bank earns money when it makes a loan to a borrower it:
A. has an incentive to loan out as much of each deposit as it can. B. has more of an incentive to loan out money than take money in through deposits. C. has an incentive to borrow from the government as much as it can to loan out. D. needs to loan out more than it takes in through deposits to make money.
If television sellers expect the prices of televisions to fall in the future, we are likely to see the price:
A) of televisions fall and quantity of televisions rise. B) of televisions rise and quantity of televisions fall. C) and quantity of televisions fall. D) and quantity of televisions rise.
If some activity creates external benefits as well as private benefits, then economic theory suggests that the activity ought to be:
A. Taxed B. Prohibited C. Subsidized D. Left alone