The "quantity demanded" of any good or service is ________ during a specified time period and at a specified price
A) the amount people are willing to buy
B) the amount people are able to buy
C) the amount people are willing and able to offer
D) the amount people are willing and able to buy
E) the amount people are willing to buy because it is the amount sellers are willing to sell
D
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What is the shape of the AS in the short run and the long run?
A. AS is relatively flat in both the short and long runs. B. AS is relatively flat in the short run but steeper in the long run. C. AS is relatively steep in both the short and long runs. D. AS is relatively steep in the short run but flatter in the long run.
When we say that one of the functions of the Fed is to be a lender of last resort, we mean that the Fed:
A. provides funds to troubled banks that cannot find any other source of funds. B. serves as a clearinghouse for interbank payments. C. sets reserve requirements.