An increase in the price of foreign oil can shift the economy’s aggregate supply curve _____ resulting in inflation.
A. inward
B. outward
C. along the curve
D. None of the above is correct.
Answer: A
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When industrial activity increases,
A) GDP decreases because of pollution. B) pollution does not necessarily increase. C) health and life expectancy decrease. D) and real GDP increases, it is the case that in all nations fewer resources are devoted to protecting the environment. E) the increase in real GDP is partially offset by the increase in pollution.
In an optimal two-part tariff pricing schedule, consumer surplus is zero
Indicate whether the statement is true or false
The main difference between GDP and GNP is that GNP excludes: a. net income of foreigners
b. consumption of fixed capital. c. transfer payments. d. government purchases.
If a tax is levied on the buyers of a product, then there will be a(n)
a. downward shift of the supply curve. b. upward shift of the supply curve. c. movement up and to the right along the supply curve. d. movement down and to the left along the supply curve.