Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply.
B. a reduction in aggregate demand.
C. an increase in long-run aggregate supply.
D. an increase in aggregate demand.
Answer: B
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The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. The slope of the relationship at point A ________ the slope at point B
A) is greater than B) is less than C) is equal to D) cannot be compared to E) can be compared but more information is needed to determine whether the slope is greater than, less than, or equal to
The HO theorem states that a country will have comparative advantage in the good whose production is relatively intensive in the ________ with which the country is relatively abundant
A) tastes B) technology C) factor D) opportunity costs
The Coinage Act of 1792
a. designated both gold and silver as the monetary standard for the U.S. b. designated gold as the monetary standard for the U.S. c. designated silver as the monetary standard for the U.S. d. designated paper Treasury notes as the monetary standard for the U.S.
In practice, turning horizontal and vertical equity into tax law
a. hasn't been tried. b. has been fairly easy. c. is resisted by nearly all taxpayers. d. has been extremely difficult.