The United States is perhaps the most individualistic society where people can deviate from the norm or make their own choices to a greater degree. The two deeply desired values are.

Suppose that in the short run, price is greater than the average total cost (ATC) of production in a perfectly competitive market. What will happen to this market in the long run?

What is the effect of a decrease in wages on the short-run aggregate supply (SRAS) curve, and how does it influence the economy in the short run?

The U.S. dollar is an example of fiat money because

What is the effect of a decrease in wages on the short-run aggregate supply (SRAS) curve, and how does it influence the economy in the short run?

An increase in the value of GDP over time:

The “savings-investment identity” in a closed economy implies that:

Of the following items, which would NOT be included in GDP? 

Which of the following is a common cause of bank failures during a financial crisis?

What is the role of the multiplier effect in Keynesian economics, and how does it amplify the impact of an initial change in autonomous spending?