If potential GDP is equal to $600 billion, what does the long-run aggregate supply curve look like?
A) It is a vertical line at a level of GDP above $600 billion.
B) It is a vertical line at $600 billion of GDP.
C) It is a horizontal line at $600 billion of GDP.
D) It is a vertical line at a level of GDP below $600 billion.
B
Economics
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Which of the following are considered factors of production used to produce goods and services?
I. Land II. Labor III. Capital IV. Entrepreneurship A) I and II only B) I and III only C) I, II and III only D) I, II, III and IV
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What is the present value of $1,000 to be received 2 years in the future with an interest rate of 8 percent?
A) $857.34 B) $925.93 C) $1080.00 D) $1166.40
Economics