When the price of a good or service changes
a. the supply curve shifts in the opposite direction.
b. the demand curve shifts in the opposite direction.
c. the demand curve shifts in the same direction
d. there is a movement along a given demand curve.
d
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
In the above figure, a decrease in the real interest rate will result in a movement from point E to
A) point F. B) point G. C) point H. D) point I.
Currency outside of banks increases from $100 million to $200 million. This change is considered
A) a currency drain. B) a decrease in the monetary base. C) expansionary monetary policy. D) contractionary monetary policy.
According to conservatives the Bureau of Labor Statistics
A. overstates the number of unemployed and overstates the unemployment rate. B. overstates the number of unemployed and understates the unemployment rate. C. understates the number of unemployed and understates the unemployment rate. D. understates the number of unemployed and overstates the unemployment rate.