Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply.
B. a reduction in aggregate demand.
C. an increase in long-run aggregate supply.
D. an increase in aggregate demand.
Answer: B
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Of the following, pick the year the U.S. enjoyed a budget surplus
A) 1970 B) 1980 C) 1990 D) 2000 E) 2010
In recent years, each 1 percent drop in output is associated with the loss of more than
a. five million jobs b. one million jobs c. half a million jobs d. two hundred thousand jobs e. one hundred thousand jobs
What happens when a price floor is set above the equilibrium price?
a. The quantity demanded will exceed quantity supplied. b. The quantity supplied will exceed the quantity demanded. c. It moves the demand curve. d. It shifts the supply curve.
During the 1997-1998 Asian financial crisis, Thailand tried to defend its fixed exchange rate for the Thai baht and eventually ran out of foreign currency reserves
a. True b. False