If technology improves when a nation is in the intermediate range and only the Aggregate Supply changes, then:
a. Real GDP remains the same and average price level rises.
b. Real GDP remains the same and average price level remains the same.
c. Real GDP falls and average price level rises.
d. Real GDP falls and average price level falls.
e. Real GDP rises and average price level falls.
.E
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What are the three types of financial institutions that accept deposits that are part of the U.S. money supply? Briefly describe each of the three types of financial institutions
What will be an ideal response?
Greg and Todd form a partnership and start a business in which each has a 50 percent share of the profit. After a year, the firm goes bankrupt and has debts of $20,000. Greg has no money, but Todd has $25,000 in the bank
Todd must pay ________ of debt. A) $0 because in a partnership each partner must pay the same B) $0 because partners in a partnership have limited liability C) half, or $10,000 D) $20,000
What is the relationship between market failure and government failure?
What will be an ideal response?
Which of the following is NOT an important criterion for whether a good will be usable as a medium of exchange?
A) The good must be of standardized quality. B) The good must be valuable relative to its weight. C) The good must have value even if it were not being used as money. D) The good must be durable so that value is not lost through product spoilage.