Which of the following shifts short-run aggregate supply left?
a. an increase in the actual price level
b. an increase in the expected price level
c. an increase in the capital stock
d. None of the above is correct.
b
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Economies of scale occur when
A) a firm's long-run average total costs fall as it increases the quantity of output it produces. B) the marginal product of labor is greater than the average product of labor. C) the demand for a firm's output increases. D) short-run marginal cost falls.
Excess reserves equal total reserves plus required reserves
a. True b. False Indicate whether the statement is true or false
Which of the following is associated with peaks in the business cycle?
a. High unemployment b. Recessions c. Low unemployment d. Depression
Refer to the information provided in Figure 23.6 below to answer the question(s) that follow.
Figure 23.6Refer to Figure 23.6. Aggregate saving is 20 when aggregate income is
A. $600. B. $660. C. $800. D. $850.