If technological change increases the profitability of new investments for firms, then the ________ curve for loanable funds will shift to the ________
A) supply; right
B) supply; left
C) demand; right
D) demand; left
Answer: C
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Any factor that reduces resource availability causes
a. the aggregate demand curve to shift to the right b. the aggregate demand curve to shift to the left c. the aggregate supply curve to shift to the right d. the aggregate supply curve to shift to the left e. a movement to the left along the existing aggregate supply curve
The demand for shoes is ________ than is the demand for sneakers because ________.
A. more price elastic; the scope of the market for shoes is more broadly defined B. less price elastic; the scope of the market for shoes is less broadly defined C. more price elastic; the scope of the market for shoes is less broadly defined D. less price elastic; the scope of the market for shoes is more broadly defined
Refer to the following graph.
Assuming a marginal cost external to the trade equals the tax shown in the graph, the market price necessary to induce consumers to purchase the efficient quantity each year is:
A. P1. B. P2. C. P3. D. P4.
Does inflation always cause workers losses due to decreases in real wages? Why or why not?