On the graph above, suppose the economy is at point 6. Which sequence of points best illustrates the short-run and then long-run impacts of an "expansionary fiscal contraction"?
A) 2, 7, 8
B) 4, 7, 1
C) 1, 4, 5
D) 1, 4, 2
D
Economics
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Victor currently produces nuts and bolts at point a in the figure. Victor's marginal cost of producing an additional nut is ________
A) 1 bolt per nut B) 1/2 bolt per nut C) 8/6 bolts per nut D) 8 bolts per nut
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Refer to Figure 10.3. What price will the monopsonist pay when maximizing profit?
A) P1 B) P2 C) P3 D) P4 E) P5
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What is the common method of financing a budget deficit?
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One signal that the U.S. dollar was overvalued in the early 1970s was the
a. stable price of gold. b. volume of international trade. c. recurring balance-of-trade deficits in the U.S. d. recurring balance-of-trade deficits in European countries.
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