A one-year Treasury bill with a face value of $1,000 and an annual yield of 5 percent sells for approximately

A congressman states, "If a government attempts to increase employment through increased government spending, all we will end up with is a higher price level." This congressman assumes that the

A) aggregate demand curve is a horizontal line. B) aggregate demand curve is a vertical line. C) aggregate supply curve is a horizontal line. D) aggregate supply curve is a vertical line.

Consumers' surplus is the difference between the price

A) sellers receive for a good and the maximum price they would have paid for the good. B) sellers receive for a good and the minimum price for which they could have sold the good. C) buyers pay for a good and the maximum price they would have paid for the good. D) buyers pay for a good and the minimum price for which they would have sold the good.