When the aggregate demand curve shifts ________ than the long-run aggregate supply shifts rightward, the result will be inflation
A) rightward at a faster rate
B) leftward at a slower rate
C) leftward at the same rate
D) rightward at a slower rate
A
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The use of discretionary fiscal policy is hampered by
i. difficulty of estimating the level of potential GDP. ii. lack of accuracy of economic forecasts. iii. the small impact tax cuts and increases in government expenditure have on aggregate demand. A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Some argue that tariffs always hurt the imposing country's economic welfare, and are typically designed to shift resources from one sector to another, protected or preferred one, within an economy. Find and discuss a counter example to this argument
What will be an ideal response?
The ________ is the most popular dominant currency that countries fix their currency against
A) Swiss franc B) U.S. Dollar C) SDR D) Euro
The depression of the 1930s was
(a) the first depression in the nation's history. (b) not the first but the most serious depression in the nation's history. (c) not the first depression in the nation's history and no more serious than some of the others. (d) not as serious as the depressions of the 1840s and 1870s.