Spot markets are generally preferable to:
A. short-term contracts.
B. long-term contracts.
C. vertical integration.
D. None of the answers are correct.
Answer: D
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Suppose the U.S. economy is producing at the natural rate of output. An appreciation of the U.S. dollar will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
(Assume the appreciation causes no effects in the supply side of the economy.) A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
Unlike the steel industry, the automobile industry
(a) became more concentrated. (b) became less concentrated. (c) remained the same in terms of concentration. (d) constantly fluctuated in terms of concentration.
Refer to the given figure.
In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as:
A. aggregate demand shifting rightward. B. short-run aggregate supply shifting downward. C. aggregate demand shifting leftward. D. long-run aggregate supply shifting leftward.
Productive inputs capable of replacing themselves if harvested at moderate rates are known as:
A. renewable natural resources. B. natural capital. C. nonrenewable natural resources. D. fossil fuels.