By definition, in the typical firm's short-run production function all inputs are fixed in amount

Everything else held constant, in the market for reserves, when the demand for federal funds intersects the reserve supply curve along the horizontal section, increasing the discount rate

A) increases the federal funds rate. B) lowers the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect on the federal funds rate.

Which of the following statements describes what most likely occurred in this economy?

a. Unemployment fell below the natural rate of unemployment.
b. There was a temporary negative shock to demand-side forces.
c. A rightward shift in SRAS caused an inflationary gap.
d. An increase in input prices caused a recessionary gap.