When workers purchase more leisure and work less at higher wages, the supply curve is
A. vertical.
B. horizontal.
C. positively sloped.
D. backward bending.
Answer: D
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Expansionary monetary policy will have what effect on the components of aggregate demand?
A) Consumption, investment, and net exports will rise. B) Consumption will rise, but investment and net exports will fall. C) Consumption and investment will rise, but net exports will fall. D) Consumption will fall, but investment and net exports will rise.
How does expansionary monetary policy affect net exports?
A) Expansionary monetary policy reduces exports and increases imports. B) Expansionary monetary policy reduces exports and reduces imports. C) Expansionary monetary policy increases exports and reduces imports. D) Expansionary monetary policy increases exports and increases imports.
Which of the following would lead domestic investment to rise?
A) an increase in government spending throughout the world B) an increase in world taxes C) an increase in world autonomous consumption D) all of the above E) none of the above
A price ceiling caused the gasoline shortage of 1973 in the United States
a. True b. False Indicate whether the statement is true or false