Which of the following would shift the aggregate demand curve to the right?
a. An increase in government purchases
b. An increase in investment spending
c. An open market purchase of bonds by the Fed
d. All of the above
e. None of the above
D
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The invisible hand is mostly guided by:
A) costs of production. B) quantity of goods and services sold. C) market prices. D) government intervention.
In the United States, most periods of very high inflation occurred
A) during times of war. B) during recessions. C) in the past 25 years. D) before the year 1800.
Which of the following correctly states the relationship between GDP and GNP for the U.S.?
a. GDP equals GNP minus the net income of foreigners. b. GDP equals GNP plus the net income of foreigners. c. GDP equals GNP minus indirect business taxes. d. GDP equals GNP.
When a country has the ability to produce a good or service at a lower opportunity cost than others, they:
A. should remain self-sufficient. B. are free-traders. C. have an absolute advantage. D. have a comparative advantage.