The most notable surfaced road of the 19th century, ___________, was built using federal government funds
a. the Cumberland Road
b. the Wilderness Road
c. the Natchez Trail
d. the Forbes Road
a. the Cumberland Road
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According to new classical school of economics, the aggregate supply curve is:
a. horizontal in both the short run and the long run. b. vertical in the short run and upward-sloping in the long run. c. upward-sloping in both the short run and the long run. d. vertical in both the short run and the long run. e. upward-sloping in the short run and vertical in the long run.
Refer to the graph , in which Dt is the transactions demand for money, Dm is the total demand for money, and Sm is the supply of money. The market is initially in equilibrium at a 6 percent interest rate. If the money supply increases, then Sm2 will shift to:
A. Sm3 and the interest rate will be 4 percent
B. Sm3 and the interest rate will be 8 percent
C. Sm1 and the interest rate will be 8 percent
D. Sm1 and the interest rate will be 4 percent