The best known financial auction market is the
A) New York Stock Exchange.
B) American Stock Exchange.
C) Pacific Stock Exchange.
D) Nasdaq.
A
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Refer to the above figure. Which of the graphs is consistent with the Keynesian short-run aggregate supply curve?
A) Graph A B) Graph B C) Graph C D) Graph D
The short-run Phillips curve shows
A) a tradeoff between the unemployment rate and the inflation rate. B) a tradeoff between real GDP and unemployment. C) the expected inflation rate. D) the natural unemployment rate. E) potential GDP.
The notion that when the price of an input falls, a firm's marginal cost curve shifts down and overall production increases so that more of every input is employed is known as
a. the output effect. b. the substitution effect. c. the input effect. d. the cost effect.
Demand-pull inflation is associated with a(n):
a. decrease in the aggregate supply curve. b. increase in the aggregate supply curve. c. increase in the aggregate demand curve. d. decrease in the aggregate demand curve. e. decline in the availability of a productive resource