Which of the following will NOT shift the aggregate demand curve?
A. a change in tax rates
B. a change in the amount of money in circulation
C. a change in the price level
D. a change in real interest rates
Answer: C
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If the price of its product just equals the average variable cost of production for a competitive firm,
A) total revenue equals total fixed cost and the firm's loss equals total variable cost. B) total revenue equals total variable cost and the firm's loss equals total fixed cost. C) total fixed cost is zero. D) total variable cost equals total fixed cost.
Both approaches-Keynesian and monetarist-are ways of analyzing
a. aggregate supply. b. aggregate demand. c. the average price level. d. government spending and expenditures.
The capital-labor ratio will tend to increase over time when
A) investment per worker equals saving per worker. B) investment per worker exceeds saving per worker. C) investment per worker is less than depreciation per worker. D) saving per worker equals depreciation per worker. E) output per worker is less than capital per worker.
The monetary approach predicts that an increase in the money supply by 12 percent in both China and Thailand will
A. lower the volume of trade between Thailand and China. B. result in a depreciation of the Thai baht against the Yuan. C. result in an appreciation of the Thai baht against the Yuan. D. have no effect on the baht per Yuan exchange rate.