Author Question: The long-run aggregate supply curve (LRAS) is: a. a vertical curve that relates the level of real ... (Read 159 times)

saraeharris · **on:** Jun 30, 2018

The long-run aggregate supply curve (LRAS) is:
a. a vertical curve that relates the level of real GDP produced to the price level in the long run.
b. an upward sloping curve that relates the level of real GDP produced to the price level in the long run.
c. an infinite curve that relates the level of real GDP produced to the price level in the long run.
d. none of the above are true.

Question 2

Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a 1,000 deposit, then its required reserves balance will be:
a. 0.
b. 90.
c. 100.
d. 900.
e. 910