The aggregate supply curve tells us
A. what the effect of changes in interest rates will be on real GDP.
B. the total amount of planned production in an economy.
C. how changes in the price level affect the amount paid for all commodities.
D. anything about the quantity demanded of all commodities and the price level.
Answer: B
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Refer to Table 2-2. Assume Nadia's Neckties only produces ascots and bowties. Nadia faces ________ opportunity costs in the production of ascots and bowties
A) negative B) decreasing C) increasing D) constant
The most that someone would pay today to receive a certain sum at some point in the future is known as
A) the interest rate. B) present value. C) future value. D) economic profit.
Beginning in about 1990, lending to and investing in developing countries began to increase. One explanation for this is that
A. interest rates in the United States were low. B. the governments in the developing countries began to encourage import-substituting manufacturing. C. after the successful Brady Plan, bank lending again became much more than half of all financial flows to developing countries. D. more developing countries began to offer insurance against exchange-rate risk.
Acid rain is an example of a negative externality.
Answer the following statement true (T) or false (F)