Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2.
B. P2 and Y1.
C. P3 and Y1.
D. P3 and Y2.
Answer: D
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In the figure above, the rightward shift from the demand for loanable funds curve DLF1 to the demand for loanable funds curve DLF2, could be the result of
A) a decrease in expected profit. B) a fall in the interest rate. C) an increase in wealth. D) a rise in the interest rate. E) an increase in expected profit.
Long-run producer surplus in a perfectly competitive industry accrues mainly to:
a. suppliers of inputs with inelastic supply curves. b. suppliers of inputs with elastic supply curves. c. firms' owners. d. marginal consumers.
The aggregate supply curve is
a. a curve showing the quantities of total output that business will purchase for investment at various price levels. b. a curve showing the quantities of total output that will be offered for sale at various price levels. c. a curve showing the quantities of goods and services that households will provide at various price levels. d. one point on the aggregate expenditure curve.
Since 1999, ________ U.S. manufacturing jobs may have been lost to Chinese imports, and trade with China has ________ throughout the United States
A) more than 2 million; created other jobs B) more than 2 million; not created any additional jobs C) very few; created more than 2 million jobs D) very few; not created any additional jobs