Which of the following does NOT decrease aggregate demand in the United States?
A. a decrease in the price of oil
B. a decrease in GDP in Germany
C. a decrease in government spending
D. a decrease in the supply of money
Answer: A
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Tariffs are considered to be a popular tax in the first world countries who justify them on the basis of the revenue they generate for government spending
a. True b. False Indicate whether the statement is true or false
Which of the following statements best represents the attitude of a consumer with a very inelastic demand toward various brands of coffee?
A. "All the brands are exactly the same. I always buy the cheapest." B. "Coffee is coffee; one brand is as good as the rest." C. "My brand is so superior to the rest of the brands that I'm willing to pay a bit more for it." D. "With my limited budget my favorite brand is usually the 'what's on sale' brand."
If demand is unit elastic and price is __________, total revenue will _________.
A. raised; increase B. raised; decrease C. lowered; increase D. lowered; remain unchanged
In which market model are the conditions of entry into the market easiest?
A. Pure competition B. Pure monopoly C. Monopolistic competition D. Oligopoly