Which of the following statements best describes the outcome of a shift in the AS curve?
a. If AS shifts out to the left, a combination of lower inflation, higher output, and lower unemployment is possible.
b. If AS shifts out to the right, a combination of lower inflation, higher output, and lower unemployment is possible.
c. If AS shifts out to the right, a combination of lower inflation, lower output, and higher unemployment is possible.
d. If AS shifts out to the left, a combination of lower inflation, lower output, and higher unemployment is possible.
b. If AS shifts out to the right, a combination of lower inflation, higher output, and lower unemployment is possible.
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If the Herfindahl-Hirschman index (HHI) among the firms in the long distance telecommunications market were equal to 1755, when would the Federal Trade Commission probably challenge a proposed merger between any two of the firms?
A) It would challenge if the HHI would increase by more than 50 points. B) It would challenge if the HHI would increase by more than 100 points. C) It would challenge no matter what happened to the HHI because the market has so few firms. D) It would not challenge because the HHI is less than 1800.
When the effects of the global financial crisis started to spread more quickly throughout the rest of the world, the U.S. dollar ________ because demand for U.S. assets ________
A) appreciated; increased B) depreciated; increased C) appreciated; decreased D) depreciated; decreased
Price ceilings set below the equilibrium create:
a. externalities. b. unemployment. c. shortages. d. surpluses.
When someone buys a bond, they give up the bond's price in exchange for:
A. right of ownership. B. future income. C. current income. D. stock.