Currency held by the public plus balances in transactions accounts plus travelers checks is the definition of
A. Bank surplus.
B. M1.
C. Bank deficit.
D. M2.
Answer: B
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According to the short-run Phillips curve, if unemployment is 2.4% and inflation is 3.7%, a decrease in the inflation rate might result in which of the following?
A) an increase in the unemployment rate to 3.4% B) a decrease in the unemployment rate to 3.0% C) a decrease in the demand for labor in the economy D) Both A and C are correct answers.
In 2010, the proportion of all poverty-level families headed by a female was
a. approximately one-fourth. b. approximately one-third. c. approximately half. d. more than three-fourths.
The aggregate supply curve shows the relationship between the ____ and the ____, holding all other factors constant.
A. price level; quantity of real GDP supplied B. price level; supply of nominal GDP C. nominal GDP; price level of real GDP D. price level; amount of nominal GDP supplied
The demand curve of a perfectly competitive firm is determined by
a. the price the firm chooses to charge. b. the intersection of the market demand and supply curves c. the reputation of the firm. d. the level of the quality of the good the firm produces.