A change in the quantity demanded of Real GDP is graphically represented as a
A) shift in the AD curve.
B) movement from one point on the AD curve to another point on the same curve.
C) movement from a point on the AD curve to a point on the SRAS curve.
D) shift in the real balance effect curve.
E) shift in the interest rate effect curve.
B
You might also like to view...
In this case, how much of the $5.00 excise tax is paid by the consumer?
Consider the following market for CFC-11, a known ozone-depleting substance: Demand: Q= 20 – 1.5P Supply: Q= 5+0.5P whereP is price per pound. Assume the governmental authority imposes a $5 per pound excise tax on CFC-11, which shifts the supply function to Q’ = 2.5 +0.5P.Use this information for any or all of the next three questions below. a. $3.75 b. $2.25 c. $5.00 d. $1.25 e. none of the above
Define the following terms and explain their importance to the study of economics. a. maximin criterion b. Nash equilibrium c. Dominant Strategy d. Zero-sum game e. Credible threat
What will be an ideal response?
If consumers spend 85 cents out of every extra dollar received, the:
A. MPC is 0.85. B. MPC is 0.15. C. MPC is 6.67. D. MPS is 0.85.
Maude's labor-supply curve slopes upward if, for Maude,
a. consumption is a normal good. b. leisure is a normal good. c. the substitution effect on leisure exceeds the income effect. d. the income effect on leisure exceeds the substitution effect.