The exact change in equilibrium output due to a shift in the short-run aggregate demand curve depends on _____
Fill in the blank(s) with the appropriate word(s).
the steepness of the aggregate supply curve.
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A decrease in the expected future exchange rate ________ the demand for U.S. dollars and shifts the demand curve for U.S. dollars ________
A) increases; rightward B) decreases; rightward C) decreases; leftward D) increases; leftward
What is seigniorage? What are the factors that determine whether a currency should emerge as the dominant reserve currency?
What will be an ideal response?
The price elasticity of demand for a horizontal demand curve is:
a. 0. b. -1. c. 1. d. - infinity.
After browsing several pairs of shoes, Bob buys a pair of Nike running shoes. Economists would say that:
A. Bob is revealing his strong distaste for New Balance running shoes. B. Bob is revealing he will always choose Nike over any other shoe brand. C. Bob will get more utility per dollar from the Nike running shoes than any other in the store. D. Bob made a poor choice, if he really prefers Adidas.