The long-run aggregate supply curve is vertical at the level of real output that corresponds to the natural rate of employment.
a. true
b. false
Ans: a. true
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Indicate whether the statement is true or false
When a recession begins and ends is determined by a committee within the
a. Office of Management and Budget b. Bureau of Economic Analysis c. Council of Economic Advisors d. National Bureau of Economic Research e. Bureau of Labor Statistics
A person's utility schedule ____________ (can/cannot) change over time.
Fill in the blank(s) with the appropriate word(s).
Suppose that you decide that you no longer want to hold currency, and deposit all of your currency holdings to your checking account. What is the immediate or initial impact of this transaction on M1 and M2?
What will be an ideal response?