If the government wished to shift aggregate demand to the left, it might:
A. decrease military spending.
B. increase the amount of educational grants available.
C. decrease corporate income taxes.
D. All of these would cause a decrease in aggregate demand.
A. decrease military spending.
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Compare and contrast Say's views of the macroeconomy with that of Keynes. What does each have to say about the economy in relationship to its potential level of real GDP?
What will be an ideal response?
Intraindustry trade is characterized by what two features?
What will be an ideal response?
Refer to the above figure. Assume that only two goods can be produced in the economy. Which of the following statements is TRUE?
A) Points a, b, and c are all obtainable points of production. B) Points a and b are obtainable points of production. C) Points b and c are obtainable points of production. D) Only point b is an obtainable and efficient point of production.
In 2011, the largest dollar volume of imports for the U.S. came from
a. consumer goods. b. industrial supplies. c. petroleum. d. automobiles.