The short-run aggregate supply curve would shift and the long-run aggregate supply curve would remain fixed if
A. bad weather that affects transportation for two days.
B. tough new environmental laws were passed.
C. there was an increase in immigration.
D. the retirement age increased by two years.
Answer: A
You might also like to view...
An asset category that caries the highest interest rate is
A) checkable deposit accounts. B) loans. C) cash in the bank vault. D) savings deposits.
In a perfectly competitive market, individual consumers have _____.
(A) Less influence than producers concerning prices. (B) No influence over determining price. (C) More influence than producers concerning prices. (D) More influence than consumers in other market structures.
Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the least costly way. How would an economist assess Wendy's claim?
A. Wendy is asserting that productive efficiency is realized in hamburger production, but not allocative efficiency. Wendy's assertion cannot be correct. B. Wendy is asserting that allocative efficiency is realized in hamburger production, but not productive efficiency. Wendy's assertion may be correct. C. Wendy is asserting that productive efficiency is realized in hamburger production, but not allocative efficiency. Wendy's assertion may be correct. D. Wendy is asserting that allocative efficiency is realized in hamburger production, but not productive efficiency. Wendy's assertion cannot be correct.
In preparing their estimates of the stimulus package's effect on GDP, Obama administration economists estimated a government purchases multiplier of 1.57. This indicates that a $1 billion increase in government purchases would increase equilibrium real
GDP by A) $1 billion. B) $1.57 billion. C) $15.7 billion. D) $157 billion.