A movement down the aggregate supply curve is caused by a(n)
A. decrease in aggregate supply.
B. decrease in the price level.
C. increase in aggregate supply.
D. increase in the price level.
Answer: B
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The Fisher equation states that the
A) expected real interest rate minus the expected inflation rate equals the nominal interest rate. B) expected inflation rate plus the nominal interest rate equals the expected real interest rate. C) nominal interest rate equals the expected real interest rate plus the expected inflation rate. D) expected real interest rate equals the expected inflation rate minus the nominal interest rate.
Legislation that provides a subsidies for tobacco growers is an example of
a. public-interest legislation b. competing-interest legislation c. a positive-sum game d. special-interest legislation e. concentrated-costs legislation
If government were to regulate a monopolistically competitive market by setting a single price, a consequence would be:
A. less output supplied to the market. B. higher prices. C. less product variety. D. All of these statements are true.
When tickets are "scalped," then in this market transaction:
A. The buyer benefits, but the seller does not B. The seller benefits, but the buyer does not C. Both the buyer and seller benefit D. Neither the buyer nor seller benefit because it is illegal