Which of the following shifts aggregate demand to the right?
a. a decrease in the money supply
b. increases in the profitability of capital due perhaps to technological progress.
c. the repeal of an investment tax credit
d. a decrease in the price level
b
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Over long time horizons, the more independent a country's central bank is,
A) the lower the inflation that country experiences. B) the better chance that country has of experiencing hyperinflation. C) the higher the country's unemployment rate tends to be. D) the more politically unstable the country becomes.
When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc definitely
A) maximizes profits. B) minimizes labor costs. C) achieves technological efficiency. D) achieves economic efficiency.
The best example of a nondurable good is
a. a television set b. carpeting c. a washing machine d. an electric saw e. a pair of children's shoes
Which of the following is NOT correct?
a. Many economist oppose increases in how much people save. b. Saving is an important long-run determinant of a nation's standard of living. c. A change in tax laws that encouraged greater saving would lower interest rates. d. Taxes on interest income can substantially decrease the future value of current saving.