An increase in which of the following is most likely to cause the short-run aggregate supply curve to shift to the left?
A) Consumers' income
B) The money supply
C) Government spending
D) The optimism of business firms
E) The per unit cost of production
Ans: E) The per unit cost of production
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The more sensitive people are to a change in price, the
A) greater a change in price must be to induce a certain change in quantity demanded. B) greater is the price elasticity of demand. C) smaller the price elasticity of demand. D) closer the price elasticity of demand is to one.
The demand for loanable funds comes from:
A. investment. B. savings. C. the government printing money. D. households spending on nondurable goods.
When the Fed engages in open market operations, it is buying or selling
A) loans made to banks to meet the legal reserve requirement ratio. B) gold. C) U.S. government securities newly issued by the U.S. Treasury. D) capital equipment. E) U.S. government securities.
An individual voter will likely be concerned with
What will be an ideal response?