Increases in autonomous spending cause leftward shifts of the aggregate demand and supply curves
Indicate whether the statement is true or false
FALSE
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The Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association were established by Congress in order to regulate banks that buy and sell mortgage-backed securities
Indicate whether the statement is true or false
Explain how changes in the stock of capital affect aggregate supply
In 2009 the electronics retailer Circuit City closed its stores. If we assume this was a short-run decision, the most likely explanation for it is that the price of a typical product sold at Circuit City stores was:
A. greater than the average total cost of producing its typical product. B. equal to the average total cost of producing its typical product. C. less than the average total cost of producing its typical product but greater than the average variable cost. D. less than the average variable cost of producing its typical product.
A rising exchange rate raises U.S. living standards by:
A. discouraging imports. B. encouraging exports. C. helping to hold down inflation. D. causing a balance of trade surplus.