The long-run industry supply curve ________ in a decreasing-cost industry.
A. is vertical
B. slopes down
C. is horizontal
D. slopes up
Answer: B
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Which of the following items are included in money supply M2 but not M1?
A. Federal Reserve notes B. savings deposits C. coins D. checkable deposits
In the Keynesian model, portfolio decisions of individuals determine the
A) inflation rate. B) money supply. C) interest rate. D) GDP.
Refer to Figure 4.1. A shift from S2 to S1 will result from which of the following?
A) an increase in expected future profits B) an increase in net exports C) a decrease in corporate taxes D) an increase in tax credits for savings
If we compare income mobility in absolute terms, we would measure whether a person's income:
A. is higher than her parents' income. B. places her higher up in the income distribution than her parents' income. C. is higher at the end of her career compared to the beginning. D. places her higher up in the income distribution over the course of her work-life.