Other things equal, a decrease in the price level will
A) shift the AS curve to the left.
B) shift the AS curve to the right.
C) cause a movement up the AS curve.
D) cause a movement down the AS curve.
D
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Deflation causes the demand for bonds to ________, the supply of bonds to ________, and bond prices to ________, everything else held constant
A) increase; increase; increase B) increase; decrease; increase C) decrease; increase; increase D) decrease; decrease; increase
The above figure shows the market demand curve for mobile telecommunications (time spent on a mobile phone). At the current price of $0.35 per minute, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $1,250.00.
Today the United States spends as much on defense as _____ of the nations combined.
Fill in the blank(s) with the appropriate word(s).
The long-run supply curve would be upward-sloping if:
A. Resource prices fall as industry production contracts B. Resource prices rise as industry production contracts C. Resource prices are not affected by changes in industry output-level D. Resource prices are set by the government