If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected.
B. only the long-run aggregate supply curve would shift left.
C. only the short-run aggregate supply curve would shift left.
D. the long-run and short-run aggregate supply curves would both shift left.
Answer: D
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A monopolist would charge ____ prices and produce ____ output than would exist under perfect competition. a. higher; less
b. lower; more. c. higher; more. d. the same; the same.
The four components of aggregate demand are ______.
a. price levels, goods, services, and disposable income b. consumption, investment, government purchases, and net exports c. price level, individual demand, market demand, and exports d. consumption, GDP, disposable income, and net imports
In general, pollution exists in situations in which
A) people are selfish. B) people refuse to take social responsibility seriously. C) there are poorly defined private property rights. D) there exists public property.
Since the late 1980s, the United States
A. has run consistently large current account surpluses. B. has been a net international debtor. C. has lent a lot to people in foreign countries. D. has run consistently large financial account deficits.