Stimulating aggregate demand to reduce unemployment will aggravate inflation.
Answer the following statement true (T) or false (F)
True
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In the above figure, the shift in the supply curve from S to S2 reflects
A) an increase in the supply of pizza. B) an increase in the quantity of pizza supplied. C) a decrease in the quantity of pizza supplied. D) a decrease in the supply of pizza. E) a decrease in the supply of pizza and a simultaneous decrease in the quantity of pizza supplied.
The inflation rate for the economy as a whole is a
a. normative value judgment b. positive value judgment c. macroeconomic statistic d. microeconomic statistic e. critical assumption
Explain the importance of the shape of supply curve for undertaking stabilization policies
The figure below shows the U.S. market for imported wine. For simplicity, we consider export supply curves to be flat. Chilean wine is available for $480 per barrel and French wine is available for $420 per barrel.
Under free trade, how many barrels of wine will the United States import and who will they import from?
A. 15 million barrels from Chile B. 22 million barrels from Chile C. 22 million barrels from France D. 10 million barrels from France