Which of the following will cause the aggregate demand curve to shift to the left?
A. An increase in national incomes abroad.
B. An increase in the price level.
C. A decrease in the price level.
D. An appreciation in the value of the U.S. dollar.
Answer: D
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A bond that promises to pay $X in 10 years must be worth less than $X now.
Answer the following statement true (T) or false (F)
When the free rider problem is present in a market:
A. what people pay often does not reflect the real value they put on a good. B. the good will likely be over consumed. C. the good is rival in consumption. D. the good is easily excludable.
Which of the following is an example of a near-public good?
a. a highway b. clean air c. a gallon of milk d. pollution e. a ticket to a professional baseball game
A local restaurant offers an "all you can eat" Sunday brunch for $12. Susan eats four servings but leaves half of a fifth helping uneaten. Why?
What will be an ideal response?