Which of the following statements is TRUE?
A. The long-run aggregate supply curve is vertical.
B. The long-run aggregate demand curve is upward sloping.
C. The long-run aggregate supply curve is upward sloping.
D. The short-run aggregate supply curve is vertical.
Answer: A
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An increase in the opportunity cost of holding money creates a ________ the money demand curve and an increase in real GDP creates a ________ the money demand curve
A) leftward shift of; movement down along B) rightward shift of; movement down along C) movement up along; leftward shift of D) movement up along; rightward shift of
In order to control costs, Medicare has begun to
A. only care for those who cannot afford care themselves. B. use prospective payments based on Diagnosis Related Groups. C. let people choose HMOs and use prospective payments based on Diagnosis Related Groups. D. let people choose HMOs.