Which of the following will cause the long-run aggregate supply curve to shift?
I. Changes in technology
II. Changes in government spending
III. Changes in the money supply
A) I only B) II only C) I, II, and III D) only I and II
A
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Refer to Table 2.4. The GDP deflator for 2012 is
A) 60.9. B) 94.3. C) 106.1. D) 157.4.
What is the primary threat of monopoly and oligopoly to the public interest?
a. Cartels b. Predatory pricing c. Price wars d. Monopoly power
Consider a consumer who purchases two goods, X and Y. If the price of good Y falls, then the substitution effect by itself will
a. cause the consumer to buy more of good Y and less of good X. b. cause the consumer to buy more of good X and less of good Y. c. not affect the amount of goods X and Y that the consumer buys. d. result in an upward-sloping demand for good Y if the substitution effect is positive.