Shifts in the short-run aggregate supply curve lead to shifts in the short-run Phillips curve
a. True
b. False
Indicate whether the statement is true or false
True
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Use the following figure to answer the question below.
Dave's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/2 B. 4 C. 2 D. 1
A perfectly competitive firm can
A) sell all of its output at the prevailing market price. B) set a higher price to customers who are willing to pay more. C) raise its price in order to increase its total revenue. D) sell additional output only by lowering its price. E) usually not sell all the output it produces, but still "over-produces" because there are some periods when it can sell the extra output at very profitable prices.
Suppose you earn annually compounding interest of 10% (per year) on an initial investment of $1,000. Rounded to the nearest 100, what will your balance in 10 years be?
A. $11,000 B. $5,200 C. $2,600 D. $2,000 E. $1,600 F. None of the above
In 1913, Congress and the President did not envision that the Fed would control
A) the money supply. B) discount loans. C) lender-of-last-resort activity. D) broad control over most aspects of money and the banking system.