If the U.S. price level increased relative to price levels in foreign countries, what would be the impact on domestic aggregate supply and aggregate demand curves?
a. the aggregate supply curve would shift outward and the aggregate demand curve would remain unchanged
b. the aggregate supply curve would shift inward and the aggregate demand curve would remain unchanged
c. the aggregate demand curve would shift outward and the aggregate supply curve would remain unchanged
d. the aggregate demand curve would shift inward and the aggregate supply curve would remain unchanged
e. the domestic aggregate demand and supply curves would remain unchanged
D
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Marginal cost is the ________ associated with a particular increase in an activity
A) additional cost B) opportunity cost C) forgone cost D) total cost
Which of the following statements is not true with regard to automatic stabilizers? a. The most important automatic stabilizer is the tax system
b. They act as shock absorbers to the economy. c. They require legislative action. d. Automatic stabilizers like government transfer payments change as business cycles conditions change.
What are the components of private consumption expenditures?
a. Services, newly-constructed homes, durable goods, and nondurable goods b. Services, durable goods, and nondurable goods c. Services and nondurable goods d. Services, durable goods, and used goods e. Services and durable goods
At the profit-maximizing quantity of output for a monopolist, average revenue, marginal revenue, and price are all equal
a. True b. False Indicate whether the statement is true or false