The short-run aggregate supply curve is upward sloping because in the short run the
A) money wage rate changes but the price level does not.
B) price level changes but the money wage rate does not.
C) both the money wage rate and the price level change.
D) neither the money wage rate nor the price level can change.
B
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If the U.S. government decides to distribute surplus cheese to food banks for the homeless, the government is addressing the question of
a. which goods and services should be produced with society's scarce resources b. what production methods should be used to produce goods and services c. how will output be allocated among the individuals in the society d. what prices will be charged for goods and services e. determining the optimal degree of specialization
The practice of selling the same goods to different customers at different prices, but with the same marginal cost, is known as
a. price segregation. b. price discrimination. c. arbitrage. d. monopoly pricing.
The labour force is
A) the total number of people employed. B) the total number of people in the working-age population who are either employed or unemployed. C) the total number of people in the working-age population who are employed. D) the total number of people aged 15 years and over. E) none of the above.
Which of the following is a bank liability?
A. U.S. Treasury securities B. Reserves C. Demand deposits D. Mortgage loans