Long-run aggregate supply is
A) the possible combinations of real GDP and inputs after full adjustments have been made.
B) the extraction of natural resources.
C) the real production of goods and services after full adjustments have been made.
D) all of the physical and human resources in the economy.
Answer: C) the real production of goods and services after full adjustments have been made.
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Economists disagree with constant government bailouts of large, struggling companies because it can give a rise to
a. Moral hazard b. Adverse selection c. Lazy managers d. None of the above
There are several government agencies in the United States that regularly check the balance sheets of banks. This is done to ensure that: a. banks take on risky projects that will earn high returns. b. banks have a positive net worth. c. banks earn sufficient profits
d. banks lend to customers with poor credit ratings.