Which of these attempts at promoting energy conservation would shift the demand curve for energy to the left?
A. A higher average speed limit
B. A reduction in the amount of available oil
C. A higher tax on gasoline
D. A tougher fuel efficiency standard for cars
Answer: D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. Then the central bank increases money growth as the result of an unannounced policy change
Under New Classical assumptions the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged
If a good has an income elasticity of demand greater than 1, one might classify that good as
A) a necessity. B) a luxury. C) unusual. D) inelastic.
The law of diminishing returns applies to which of the following segments of the marginal product of labor curve?
a. The entire curve. b. The downward-sloping segment only. c. The upward sloping segment only. d. The point where labor input is zero.