The Keynesian short-run aggregate supply curve is demonstrated graphically as a
A) vertical line.
B) horizontal line.
C) upward sloping curve.
D) downward sloping curve.
B
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In 2007, European Union (EU) negotiators have offered to cut tariffs for Latin American bananas to avoid "banana wars". What are the effects of a cut in tariffs?
A) The quantity of bananas imported into the EU will increase. B) The price of bananas for consumers will increase. C) The quantity of bananas produced in the EU (such as in France and Spain) will increase. D) Europe will start to export bananas.
Which of the following is NOT included in the monetary aggregate M2?
A) currency B) savings bonds C) traveler's checks D) checking deposits
The opportunity cost of holding money is measured by:
A) short-term nominal interest rate B) short-term real interest rate C) long-term nominal interest rate D) long-term real interest rate
There is a 20% chance that you will earn $20,000; a 20% chance that you will earn $40,000; and a 60% chance you will earn $50,000. What are your expected earnings?
What will be an ideal response?