List some reasons why the aggregate demand curve of an economy may shift to the left
Aggregate demand may fail to increase smoothly along with aggregate supply, or may even shift left when a) households become hesitant about consuming; b) firms reduce investment; c) governments change their spending patterns; or d) demand from other countries for domestic exports diminishes.
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When obtaining information is costly, competition is
A) less effective at forcing prices down. B) more effective at forcing prices down. C) only effective at forcing prices u
In the above table, the inflation rate between 2012 and 2013 is approximately
A) 0.9 percent. B) 1 percent. C) 10 percent. D) 100 percent.
When "rent controls" result in a shortage of housing, landlords
A) use criteria other than price to allocate housing. B) lower the price to allocate the housing. C) attempt to attract renters. D) None of the above.
Using the above table, at a price of $5 there will be a
A) shortage of 20 units. B) shortage of 10 units. C) surplus of 20 units. D) surplus of 10 units.