An aggregate supply curve represents the relationship between the:
A. price level and the buying of real domestic output.
B. price level that producers are willing to accept and the price level buyers are willing to pay.
C. real domestic output bought and the real domestic output sold.
D. price level and the production of real domestic output.
Answer: D
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Use the figure below: 
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Why would a profit maximizing monopolist in a contestable market set its price at a level below that which maximizes short run profits?
What will be an ideal response?
The Federal Reserve Board of Governors
A. serves at the pleasure of the president similar to other cabinet positions. B. reports directly to Congress and is controlled by Congress. C. consists of 12 members, one from each district bank. D. is structurally independent of the executive and legislative branches of the federal government.
Which presidential candidate made this pledge: "Read my lips: no new taxes"?
A. Gerald Ford (1974) B. Jimmy Carter (1976) C. Ronald Reagan (1980) D. George H.W. Bush (1988)