Which of the following would cause the IS curve to shift?
A) a change in the multiplier
B) a change in business or consumer confidence
C) an increase in autonomous tax revenue
D) All of these would shift the IS curve.
D
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The price elasticity of demand measures which of the following?
A) the slope of the demand curve B) the rate at which demand changes when price changes C) how responsive the quantity demanded is to changes in price D) the percentage-slope of the demand curve E) None of these correctly defines what price elasticity of demand measures.
Government officials facing the challenge of an election will tend to make decisions
A) acceptable to a majority whether or not the majority is informed on the issues. B) expressing the public interest. C) favoring the long run interests of the majority. D) that reflect a high rate of time discount.
Use the three basic questions to describe why perfect competition is efficient
What will be an ideal response?
When one observes consumption and investment patterns over time, one finds that:
A. like consumption, investment is fairly stable over time. B. like consumption, investment is fairly erratic over time. C. unlike consumption, which is fairly stable over time, investment is subject to erratic fluctuations. D. unlike consumption, which is subject to erratic fluctuations, investment is fairly stable over time.