The slope of the aggregate supply curve is
A. perfectly vertical.
B. perfectly horizontal.
C. upward.
D. downward.
Answer: C
You might also like to view...
Suppose a bank has $200,000 in deposits, a required reserve ratio of 10 percent, and bank reserves of $45,000. Then this bank can make new loans in the amount of
A. $25,000. B. $10,000. C. $2,500. D. $20,000.
Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $13 per hour. During the summer, he drives a tour bus around the ski resort, earning $11 per hour. Assume that Sam has an upward-sloping labor supply curve. If the opportunity cost of Sam's leisure time increases, he will respond by working
a. more hours. b. fewer hours. c. an equal number of hours. d. a number of hours that cannot be determined from the information. The labor demand curve is needed to make this determination.
Which of the following is NOT one of a group of variables that make up the Index of Leading Indicators?
A. New building permits issued B. The unemployment rate C. Index of stock prices D. The money supply
The merger of two daily New York City newspapers would be an example of a
A) conglomerate merger. B) diagonal merger. C) horizontal merger. D) vertical merger.