A sale in which property or a service is sold to the highest bidder is called a(n)

The short-run aggregate supply curve is vertical

Indicate whether the statement is true or false

A depression can be defined as: a. a mild reduction in total production coupled with a rising unemployment rate that lasts for several years. b. a mild decline in total production that lasts less than six months

c. a severe fall in stock prices that causes financial panic and lasts for several years. d. a severe reduction in total production coupled with high unemployment that lasts for several years. e. a decline in government spending and taxes that lasts for several months.