Choose the letter of the diagram in Figure 3.1 that best describes the type of shift that would occur in each situation for the market listed on the left, ceteris paribus. Figure 3.1 Shifts of Supply and Demand Steel: the government introduces environmental restrictions on the dumping of wastes from producing steel.
A. A.
B. B.
C. C.
D. D.
Answer: A
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A decrease in the real interest rate leads to a ________ the demand for loanable funds curve, and a decrease in the expected profit leads to a ________ the demand for loanable funds curve
A) rightward shift in; leftward shift in B) movement down along; movement up along C) rightward shift in; movement up along D) movement down along; leftward shift in
Monetarism is a school of thought put forth by ________, who argued that the economy would most likely be at potential GDP
A) Finn Kydland and Edward Prescott B) Milton Friedman C) Robert Lucas and Thomas Sargent D) Karl Marx
If the price of peaches, a substitute for plums, decreases the demand for plums will increase
Indicate whether the statement is true or false
Information about the leading economic indicators is collected to address which of the following issues?
A. Multiplier problems. B. Goal conflicts. C. Implementation problems. D. Measurement problems.