Which of the following shifts the short-run but not the long-run aggregate-supply curve left?
a. an increase in the expected price level
b. a decrease in the expected price level
c. a decrease in how much people want to consume
d. an appreciation of the dollar
Ans: a. an increase in the expected price level
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What would be a way for the Federal Reserve to stimulate a sluggish economy?
A) buy government bonds on the open market B) encourage the stock market C) print more money D) sell more government bonds
All of the following are components of the expenditure approach to measuring GDP EXCEPT
A) Shaniq's purchase of a meal at the Olive Garden in Atlanta. B) a Senator from Iowa being paid the monthly salary. C) the army buying new M1 Abram tanks. D) Ford Motor Company buying new Dell computers for use in its marketing department in Dearborn, Michigan.
Assume the demand curve is line AD. If price is OF, the consumer surplus is bounded by letters
A. OAFB.
B. OACE.
C. FBD.
D. ECD.
A firm announces that it will refund the difference between its price and any price of a competitor that is lower. This is an example of:
A. predatory pricing. B. tying contracting. C. marginal cost pricing. D. a low-price guarantee.