Refer to the diagrams. Other things equal, curve B will shift upward when:
A. the level of GDP increases.
B. the interest rate increases.
C. curve A shifts to the left.
D. curve A shifts to the right.
D. curve A shifts to the right.
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When people purchase health insurance and then change their behavior after the purchase because the insurance protects them from loss, the health insurance market is said to face the problem of
A) asymmetric information. B) moral hazard. C) adverse selection. D) the rationality paradox.
Fogel and Engerman (1974) are generally of the opinion that American slavery
(a) was antiquated, inefficient and was on the verge of existance. (b) was thriving and profitable in the decades prior to the Civil War. (c) provided conditions for a reasonably normal family life and standard of living for the slaves with very little breakup of slave families or exploitation of slaves. (d) was inferior to the wage-labor system in the South and would have likely been replaced with time.
An interior solution to a consumer's utility maximization problem implies
A) consuming a positive amount of one good and a negative amount of the other good. B) consuming negative amounts of all goods. C) consuming less than optimal amounts of all goods. D) consuming more than an optimal amount of at least one good.
Identify an example of a stock variable
a. The growth in investment in an economy b. The change in the price level in an economy over the years c. The number of unemployed people in an economy in a particular year d. The increase in the money supply in an economy e. The fall in consumer spending during two consecutive years