Falling output, in the short run, could be due to:
A. a reduction in aggregate demand.
B. an increase in short-run aggregate supply.
C. an increase in long-run aggregate supply.
D. an increase in aggregate demand.
A. a reduction in aggregate demand.
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The highest unemployment rate recorded since World War II came in ________
A) September 1929 B) January 1961 C) December 1982 D) October 2009
The argument that supply of apartments is inelastic in the short run is based on the idea that
A. it takes time to build new apartments. B. it is costly to move to a different location. C. landlords will fix up many new apartments when there are small changes in rent. D. people will change apartments quickly when there are small changes in rent.
The primary motive for financial innovation during the regulatory process is
A) profit. B) adherence to the new regulations. C) return to the way business was conducted prior to the new regulations. D) increase coordination with other financial institutions.
A monopolist can charge any price it wants to for a product, because it has no competitors. What constrains price for a monopoly?
a. Demand b. Copyright c. Quality d. Quantity