Which of the following CORRECTLY describes the above figure?
A) There is no relationship between x and y.
B) There is a positive relationship between x and y.
C) There is a negative relationship between x and y.
D) None of the above answers are correct.
A
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A short-lived increase in oil prices caused by destruction of oil-producing and oil-refining facilities by a large hurricane will
A) shift the SRAS curve to the right. B) shift the AD curve to the right. C) shift the SRAS curve to the left. D) shift the LRAS curve to the right.
Which of the following always decreases as output increases?
a. ATC b. MC c. AFC d. TC e. TVC
You are a hotel manager considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table. ProjectBoom (50%)Recession (50%)A$40-$20B-$10$30C$50-$50D$60$60Which project has the highest variance?
A. A B. B C. C D. D
(Last Word) In response to the Great Recession, the federal government engaged in significant deficit-funded spending, but it did not fully achieve the desired result. Which of the following best explains why the fiscal policy actions fell short of their
objective? A. Monetary policy counteracted fiscal policy, keeping the unemployment rate from falling as much as intended. B. Consumers did not respond to the fiscal stimulus as well as hoped, as they put more income into saving and repaying debt. C. Although the fiscal stimulus increased consumer spending significantly, it mostly went to purchase foreign-produced goods and services. D. The fiscal stimulus caused massive inflation that further disrupted economic activity.