If a new method for obtaining oil from dry oil fields is found, then we will see:
a. the AS curve shift to the left.
b. a movement to the left along the AD curve.
c. the AD curve shift to the left.
d. the AD curve shift to the right.
e. the AS curve shift to the right.
e
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Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS)? a. An increase in oil prices. b. An advance in technology
c. An increase in the CPI. d. An increase in the long-run aggregate supply curve (LRAS).
What is the biggest obstacle to successful economic growth in very low income countries?
a. lack of education b. poor health and limited health care facilities c. high political instability d. lack of technology
Suppose the demand for tacos increases. Ceteris paribus, what will happen to producer surplus in the market for tacos?
What will be an ideal response?
Which one of the following is NOT included in GDP?
A. You volunteer to organize a neighborhood watch group on your block. B. A mail-order firm constructs a new warehouse in Kansas as a central distribution facility. C. You pay your monthly apartment rent. D. The federal government pays a defense contractor to develop a new weapons system.