For a given price level, an upward shift of the expenditures schedule corresponds to an
a. inward shift of the aggregate demand curve.
b. outward shift of the aggregate demand curve
c. outward shift of the aggregate supply curve.
d. inward shift of the aggregate supply curve.
b
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As the economy becomes more technologically sophisticated, the wage premium can be expected to
A. continue rising. B. continue falling. C. rise. D. fall.
Refer to the scenario above. What is the payoff to Firm B in equilibrium?
A) $2.6 million B) $0 C) $4 million D) $3 million
According to the Prebisch-Singer thesis
(a) demand for primary products has steadily fallen. (b) profits of primary producers have steadily fallen. (c) primary producers' terms of trade have steadily fallen. (d) prices of primary products have risen over time.
The entire group of buyers and sellers of a particular good or service makes up:
A. the demand curve. B. the equilibrium price and quantity. C. the supply curve. D. a market.