The long-run aggregate supply curve (LRAS) is:
a. a vertical curve that relates the level of real GDP produced to the price level in the long run
b. an upward sloping curve that relates the level of real GDP produced to the price level in the long run.
c. an infinite curve that relates the level of real GDP produced to the price level in the long run.
d. none of the above are true.
a
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Since World War II, the size of the U.S. national debt relative to income
a. increased continuously. b. decreased continuously. c. increased and then decreased. d. decreased and then increased.
Which of the following items is included when computing M1?
a. All of the answers are correct. b. Coins in circulation. c. Checking accounting entries. d. Currency in circulation.
Refer to the graph shown. If the monopoly firm maximizes profit, it will produce:
A. 25 units of output and charge a price of $2.50 per unit. B. 30 units of output and charge a price of $2.00 per unit. C. 15 units of output and charge a price of $3.50 per unit. D. 15 units of output and charge a price of $2.00 per unit.
Which of the following countries had the highest unemployment rate for workers under 25 in 2009?
A. Italy B. France C. Great Britain D. Spain