Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output
B. D; an expansionary
C. B; recessionary
D. D; a recessionary
Answer: D
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A central bank is
A) an international bank. B) the largest bank in the country. C) a banker's bank. D) the largest bank in the country's capital.
Which of the following is TRUE about species in the world?
A) Most extinct species became extinct within the past 30 years. B) The majority of extinct species became extinct before humans appeared. C) Extinct species became extinct only after human appeared. D) No species has ever become extinct.
Which of the following societies is the most likely to have a traditional economy?
a. The United States. b. The Inuit (native people of Northern Canada). c. Cuba under Castro's rule. d. Modern-day Hong Kong.
The housing market boom raised people's perceived wealth.
Answer the following statement true (T) or false (F)