A country's long-run aggregate supply curve will shift to the left when there is (are)
A. a discovery of new oil reserves in that country.
B. fewer regulatory impediments to business.
C. a reduction in the money supply.
D. a reduction in the labor force.
Answer: D
You might also like to view...
Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee falls from $6 to $4, the market quantity demanded would
A) increase by 61 lbs. B) increase by 110 lbs. C) increase by 26 lbs. D) decrease by 89 lbs.
Diseconomies of scale exist over the range of output for which the long-run average cost curve is:
a. constant. b. falling. c. rising. d. subject to diminishing returns.
“Peak pricing” involves setting lower prices at peak times so that people can afford a good or service.
Answer the following statement true (T) or false (F)
Exhibit 14-5 Aggregate demand curves
?
In Exhibit 14-5, which one of the following could cause the U.S. aggregate demand curve to move from AD3 to AD2?
A. greater resource availability B. nonfluctuating resource availability C. a recession in Japan D. an increase in government grants for AIDS awareness programs