The following is likely to occur after a ________ shock: [AD? ? Y? ? T? ? deficit? ? G? ? AD? ? Y?].
A. positive aggregate demand
B. positive aggregate supply
C. negative aggregate demand
D. negative aggregate supply
Answer: A
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Natural resources:
A. are production inputs that come from the earth. B. include lakes, mineral deposits, forests, and so on. C. can be split into two categories: renewable or nonrenewable. D. All of these are true statements.
Which of the following is true of profits and losses?
a. Profits direct entrepreneurs toward production of goods that are highly valued relative to their cost, while losses direct them away from wealth-reducing activities. b. Profits indicate that the firm is charging prices that are too high, while losses indicate that the firm needs to raise its prices. c. Profits indicate that the consumer is getting a bad deal, while losses indicate that the consumer values the product highly relative to its cost. d. Profits indicate that the suppliers of resources are underpaid, while losses indicate they are overpaid.
Average consumption in an economy is best measured by ________, while average productivity in an economy is best measured by ________.
A. output per person; output per worker B. total output; output per worker C. output per worker; total output D. output per worker; output per person
Technically, the ECB has a dual mandate of price stability and support of the European economies; but in practice, it seems to favor ______ over ______.
A) lowering unemployment; controlling inflation B) promoting equality; lowering unemployment C) price stability; economic performance, growth, and employment D) women's rights; lower taxes on small business