A decrease in the expected level of inflation will cause short-run aggregate supply to ____ and the short-run Phillips curve to ____
a. shift left; shift right
b. shift left; shift left
c. shift right; shift right
d. shift right; shift left
d
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If asset markets are driven by the "animal spirits" of investors, then
a. those markets reflect rational behavior. b. those markets reflect irrational behavior. c. the efficient markets hypothesis is correct. d. the stock market exhibits informational efficiency.
The main problem with using groundwater to increase water supplies is that
a. Groundwater tends to be contaminated with pesticides b. Groundwater is normally found in countries that already have sufficient supplies c. Groundwater aquifers are being rapidly depleted d. Groundwater tends to be too salty e. Groundwater tends to be too expensive
Economist Douglass North suggests that the term used to describe government bodies, development agencies, and international groups should be:
A. groups. B. institutions. C. agencies. D. organizations.
Microeconomics is concerned with studying which of the following?
A) the determinants of national unemployment B) the effects of monetary policy C) the study of a nation's workforce D) none of the above