Referring to a production possibilities curve and the goods being compared, depict the economic event. The economy moves from full employment to a serious recession (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve
B. A movement from a point on the curve to a point inside the curve
C. A shift in the entire curve to the right (outward)
D. A shift in the entire curve to the left (inward)
E. A movement along the curve
B. A movement from a point on the curve to a point inside the curve
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If net exports decrease by $20 billion and the economy's MPC is .5, the aggregate demand curve will shift ________.
A. rightward by $20 billion at each price level B. rightward by $40 billion at each price level C. leftward by $40 billion at each price level D. leftward by $20 billion at each price level
Many whites regard ghetto poverty as a symptom of aberrant cultural values and inherent racial deficiencies
Indicate whether the statement is true or false
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were an autarky, producers would enjoy area:
A. BCEFG B. G C. EFG D. BCDEFG
The "shadow banking system" refers to:
A. the provision of credit through the underground economy when the financial crisis of 2007 and 2008 occurred. B. the process by which securities exchanges provide credit for personal and business needs apart from traditional bank lending. C. the series of illegal financial transactions that precipitated the financial crisis of 2007 and 2008. D. mortgage loans made to homebuyers who are poor credit risks.