Government actions can cause a
A) shift in the supply curve.
B) shift in the demand curve.
C) reaction from firms in other countries.
D) All of the above.
D
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Other factors held constant, a decrease in resource prices will shift the aggregate:
a. demand curve leftward. b. demand curve rightward. c. supply curve leftward. d. supply curve rightward.
Lindsay and Tim are playing the ultimatum game starting with $100 . Based on the coin toss, Lindsay is the player to propose a division of the $100 . If Lindsay acts as economic theory assumes and Tim acts as experimental evidence shows, Tim will
Britain's 1992 recession is probably the result of:
A) the struggle to reconcile monetary and fiscal policy. B) the adherence to the ERM, which required Britain to raise interest rates to maintain exchange parity. C) high unemployment rates, which are a product of the generous welfare system. D) poor planning for the conversion to the euro.
The figure below shows the production-possibility curves for Canada (AB) and the rest of the world (CD). The opportunity cost of producing one liter of maple syrup in Canada and in the rest of the world are ________ bushels and ________ bushels of corn, respectively.
A. 7/9; 1/2 B. 9/7; two C. 7/9; two D. 9/7; 1/2