A curve that shows the relationship between the price and quantity supplied during a particular period, all other things unchanged, is the:
A) price curve.
B) supply curve.
C) quantity function.
D) production possibilities curve.
Answer: B) supply curve.
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Indicate whether the statement is true or false
It is possible for the government to remove individuals from a prisoner's dilemma setting and make them better off.
Answer the following statement true (T) or false (F)
Which of the following is NOT an entity of the Federal Reserve System?
A) Federal Reserve Banks B) the Comptroller of the Currency C) the Board of Governors D) the Federal Open Market Committee
If the inflation rate in Japan is higher than the inflation rate in the United States
A) there will be an increase in U.S. imports from Japan. B) there will be an increase in Japanese exports to the United States. C) there will be no change is U.S. imports from Japan. D) there will be a decrease in U.S. imports from Japan.