Suppose the U.S. GDP growth rate is faster relative to other countries' GDP growth rates. This will
A) shift the aggregate demand curve to the left.
B) shift the aggregate demand curve to the right.
C) move the economy up along a stationary aggregate demand curve.
D) move the economy down along a stationary aggregate demand curve.
A
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
? PriceQuantity Demanded Quantity Supplied $101,000 5,500 92,0005,00083,0004,50074,0004,00065,0003,50056,0003,00047,0002,50038,0002,00029,0001,500110,0001,000? Refer to Table 4-1. What is the equilibrium price in the example above?
A. $9 B. $8 C. $7 D. $6 E. $5
From the Patterns of Sustainable Specialization and Trade (PSST) perspective, expansionary monetary and fiscal policies that are designed to boost aggregate demand
A) will not work if the money market is in disequilibrium, and may end up making the economy worse. B) will not work unless alternative sources of energy are employed. C) may not work if buyers and sellers are out of sync with one another, and may end up making the economy worse. D) are always successful in pushing the economy to full-employment.
In a market where the tragedy of the commons arises, the equilibrium quantity is both individually ________ and collectively ________.
A. inefficient; rational B. irrational; efficient C. rational; inefficient D. efficient; irrational