The full employment level of real GDP can be represented on an aggregate supply and demand diagram as a(n):
A. vertical line.
B. upward-sloping line.
C. horizontal line.
D. downward-sloping line.
Answer: A
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What effect does a contractionary monetary policy in the U.S. have on the foreign trade sector?
A) The higher value of the dollar will decrease imports and increase exports. B) The higher value of the dollar will decrease exports and increase imports. C) The lower value of the dollar will decrease imports and increase exports. D) The lower value of the dollar will decrease exports and increase imports.
Angelica wants to open a restaurant and is thinking of setting it up as a corporation. What are the advantages and disadvantages she will face by setting up the business as a corporation as opposed to a sole proprietorship or a partnership?
What will be an ideal response?