A Keynesian short-run aggregate supply curve has a flatter portion and a steep portion. How does an increase in aggregate demand affect the price level differently across these two portions?
a. There is a sharp increase in the price level across the flatter portion and a small increase in the price level across the steep portion.
b. There is a sharp decrease in the price level across the flatter portion and a small decrease in the price level across the steep portion.
c. There is a small increase in the price level across the flatter portion and a sharp increase in the price level across the steep portion.
d. There is a small decrease in the price level across the flatter portion and a sharp increase in the price level across the steep portion.
c. There is a small increase in the price level across the flatter portion and a sharp increase in the price level across the steep portion.
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If the Herfindahl-Hirschman index (HHI) among the firms in the long distance telecommunications market were equal to 1755, when would the Federal Trade Commission probably challenge a proposed merger between any two of the firms?
A) It would challenge if the HHI would increase by more than 50 points. B) It would challenge if the HHI would increase by more than 100 points. C) It would challenge no matter what happened to the HHI because the market has so few firms. D) It would not challenge because the HHI is less than 1800.
Who is responsible for U.S. monetary policy?
What will be an ideal response?
The BLS monthly household survey involves about __________ households in the United States
A) 6,000 B) 60,000 C) 600,000 D) 6,000,000
If interest rates in Canada fall below those in the rest of the world, then
a. it depreciates Canada's exchange rate and this may result in a surplus on Canada's current account b. the demand for Canadian dollars increases c. exports from Canada to other countries decrease d. imports into Canada from other countries increase e. the balance of payments becomes negative