In the classical model, the supply-determined nature of output is illustrated by a(n)
a. horizontal aggregate supply curve.
b. vertical aggregate supply curve.
c. upward sloping aggregate supply curve.
d. downward sloping aggregate supply curve.
B
Economics
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Voluntary export restraints
A) have the same effect as an import ban. B) violate the spirit of international trade agreements. C) are illegal under the international trading rules. D) all of the above.
Economics
Briefly explain the behavior of the Federal Reserve considering a balance of payments disequilibria within a fixed exchange rate system
What will be an ideal response?
Economics