The short-run aggregate supply curve is positively sloped because
A) real interest rates rather than nominal rates are used.
B) no price adjustments take place in the short-run.
C) complete price adjustments take place in the short-run.
D) some price adjustments take place in the short-run.
D
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Which one of the following is a function of the Federal Reserve System?
A) providing the economy with currency B) serving as a lender of last resort C) providing a system for check clearing D) all of the above
If market participants have rational expectations, then the best forecast of the price of a stock in the next period is
A) equal to an average of the prices of the stock in previous periods. B) equal to the price of the stock in the current period. C) dependent upon all information available in the current period, including, but not limited to, the price of the stock in the current period. D) dependent on information available in the previous period.
If marginal cost is increasing, average total cost must be increasing
Indicate whether the statement is true or false
Karl Marx published:
A. Das Kapital. B. General Theory of Communism. C. The Wealth of Nations. D. Capitalist Manifesto.