Which of the following will decrease aggregate expenditure in the United States?
A) a decrease in the value of the dollar B) a decrease in interest rates
C) a decrease in the price level D) a decrease in government purchases
D
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Normally an increase in the supply of a good will cause
A. a shift of consumer preferences in favor of that good. B. consumers to use more of that good and less of others. C. a shift of consumer preferences away from that good. D. consumers to use less of that good and more of others.
Compared to the Erie Canal, the primary disadvantage of Pennsylvania canals was
a. state government resistance to providing funds for canal building. b. the steep, mountainous terrain of Pennsylvania. c. a pre-existing network of railroads in Pennsylvania. d. lack of adequate rainfall in Pennsylvania.
The economy is fully employed when there is no:
a. seasonal unemployment. b. frictional unemployment. c. structural unemployment. d. cyclical unemployment.
Tommy's Tires operates in a perfectly competitive market. If the market price equals $50 per tire and ATC = $60 per tire at the profit-maximizing level of output, then in the long run
a. more firms will enter the market b. the market supply curve will shift to the right c. the equilibrium price per tire will fall d. average total costs will rise e. the market supply curve will shift to the left