All normal supply curves slope from the_____________________of the graph to the__________.
Fill in the blank(s) with the appropriate word(s).
Ans: lower-left hand corner, upper-right hand corner
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
If the United States follows an expansionary monetary policy relative to Japan and Germany, which of the following is not likely to occur?
A) U.S. interest rates will rise relative to Japan and Germany B) a larger U.S. capital account deficit C) a depreciation of the dollar D) lower level of U.S. income
The intercept term of the linear investment function measures:
A) induced investment expenditures. B) autonomous investment expenditures. C) income. D) none of the above.
Which of the following would cause an increase in the market supply of mountain bikes?
A) a decrease in the demand for mountain bikes B) an increase in taxes levied on mountain bike manufacturers C) an increase in the cost of components used to assemble mountain bikes D) an increase in the number of firms making mountain bikes