Which of the following, other things the same, would make the price level decrease and real GDP increase?
a. long-run aggregate supply shifts right
b. long-run aggregate supply shifts left
c. aggregate demand shifts right
d. aggregate demand shifts left
A
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When moving along a demand curve, which of the following changes?
A) the consumers' incomes B) the price of the good C) the number of buyers D) the consumers' preferences E) the prices of other goods
Competition
A) cannot be eliminated unless scarcity is eliminated. B) causes people to hope others will fail. C) compels people to do only what is in the public interest. D) only exists in capitalist societies. E) only exists in societies with fiat currency.
Suppose that the current equilibrium price of gasoline is $3.50 per gallon and that the government passes a law that requires the price to be no more than $3 per gallon. What will be the effects?
What will be an ideal response?
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week. Given this information, there
A. is diminishing marginal product. B. are too many workers. C. is increasing marginal product. D. are not enough workers.