Bob's Barber Shop cut 3,000 heads of hair in 2014 and 3,100 in 2015. The price of a haircut was $7 in 2014 and $8 in 2015. If 2014 is the base year, what was Bob's contribution to real GDP in 2015?

When bad storms slow the check-clearing process, float tends to ________ causing the Fed to initiate defensive open market ________

A) decrease; sales B) decrease; purchases C) increase; sales D) increase; purchases

Explain the importance of the shape of supply curve for undertaking stabilization policies