________ is the amount offered for sale per period at a particular price, as reflected by a point on a supply curve.
A) Individual supply
B) Law of supply
C) Supply
D) Quantity supplied
E) Market supply
Ans: D) Quantity supplied
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
The discount rate is the interest rate that
A) commercial banks charge their customers. B) commercial banks charge each other for the loan of reserves. C) the Fed charges the government for loans. D) the Fed charges commercial banks when it loans reserves to the banks. E) the Fed pays commercial banks on their reserves held at the Fed.
The current official "base year" is
A) 2000. B) 1992. C) 1980. D) 1972.
Which of the following is true of the shape of the short-run Phillips curve? a. It is vertical
b. It is horizontal. c. It is downward sloping. d. It is upward sloping.