The tax cut of 2001 turned out to be well-timed because it caused a
A. rightward shift of the aggregate demand curve.
B. rightward shift of the aggregate supply curve.
C. leftward shift of the aggregate demand curve.
D. leftward shift of the aggregate supply curve.
Answer: A
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The excess supply curve of a product we (H) import from foreign countries (F) increases as
A) excess demand of country H increases. B) excess demand of country F increases. C) excess supply of country H increases. D) excess supply of country F increases. E) excess supply of country F decreases.
If autonomous planned spending increases by $1 million and s = 0.2 and t = 0.1, then equilibrium income increases by
A) $5 million. B) $3.33 million. C) $3.57 million. D) $2.90 million.
As the interest rate rises, businesses invest __________ and the AD curve shifts to the __________
A) more; right B) more; left C) less; right D) less; left
The short-run aggregate supply curve is
A) downward sloping. B) upward sloping. C) vertical. D) horizontal.