The U.S. aggregate demand curve shifts leftward if
A) the economic conditions in Europe improve so that European incomes increase.
B) there is a tax cut.
C) the Federal Reserve increases the interest rate.
D) the exchange rate falls.
C
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Assume that a firm is operating in the short run and all resources are fixed except for labor. The total product curve for this firm will increase at a decreasing rate because:
a. value of marginal product of labor is unchanged as more labor is hired. b. marginal product of labor will decline as more labor is hired. c. value of marginal product of labor will increase as more labor is hired. d. marginal product of labor is unchanged as more labor is hired.
A firm, judged to be a natural monopoly in a small rural market like Centerville, may be considered monopolistically competitive in a market such as New York City
Indicate whether the statement is true or false
The government's chief forecasting gauge for business cycles is the:
A. unemployment rate. B. real GDP. C. personal income index. D. index of leading indicators.
The Lorenz curve graphs the
A) cumulative percentage of spending against the cumulative percentage of households. B) marginal percentage of income against the marginal percentage of households. C) cumulative percentage of income against the cumulative percentage of households. D) cumulative percentage of spending against the marginal percentage of households.