The supply curve of a producer, whose costs vary continuosly with output will be:
a. a straight line vertical to the output axis.
b. a straight line horizontal to the output axis.
c. the positively sloped portion of the marginal cost curve.
d. the negatively sloped portion of the marginal cost curve.
C
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If the Fed were to increase the discount rate so that it was much higher than the federal funds rate, eventually
A) reserves would decrease and the money supply would decrease. B) reserves would increase and the money supply would increase. C) reserves would decrease and the money supply would increase. D) reserves would increase and the money supply would decrease. E) there is no impact on reserves or the money supply.
The steam engine was one of the basic innovations of the ____, which began in England around the year ____.
Fill in the blank(s) with the appropriate word(s).
Fill in this table.
Why is the demand for resources called a “derived” demand? On what two factors does the strength of the demand for resources depend? How are these two factors related?
What will be an ideal response?