Which of the following is included in M1?
A) the $200 you charged on your credit card to purchase your textbooks
B) the $200 check you wrote to purchase your textbooks
C) the $200 in cash you used to purchase your textbooks
D) the $200 loan you arranged to purchase your textbooks
C
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Assume that the economy is at a long run equilibrium and oil prices rise. As a result, the ________ shifts ________
A) AD; rightward B) AD; leftward C) SAS; rightward D) SAS; leftward
The problem of political instability has been greatest in which continent?
A. South America B. Europe C. Asia D. Africa
Which of the following statements is (are) correct? There is agreement between the Keynesians and monetarists that
a. an increase in aggregate demand will increase both output and price in the short run. b. there is a trade-off between inflation and unemployment in the short run. c. in the long run, when the expected price level also has time to adjust, output will not be affected by changes in aggregate demand. d. All of the above e. None of the above
Scarcity means
a. unlimited wants and unlimited available resources. b. unlimited wants and limited available resources. c. limited wants and limited available resources. d. limited wants and unlimited available resources.