An upward shift of the planned expenditure curve resulting from a decrease in the price level corresponds to
A) aggregate demand shifting to the left.
B) a movement up along the aggregate demand curve.
C) a movement down along the aggregate demand curve.
D) aggregate demand shifting to the right.
C
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The natural rate of unemployment equals
A) structural plus frictional plus cyclical unemployment. B) structural plus frictional unemployment. C) the rate of unemployment we observe in any given period of measurement. D) the rate of structural unemployment.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
The law of demand
A. is the opposite of the law of supply. B. works only in large markets. C. is a general tendency. D. can never be violated.
The problem of having unlimited wants under the constraint of limited resources can describe the problem of:
A. scarcity. B. the marginal principle. C. sunk costs. D. opportunity cost.