Suppose the AD and SAS curves shift upward by the same amount. Real GDP would ________ while the price level ________
A) remain unchanged, rises
B) remain unchanged, remains unchanged
C) remain unchanged, falls
D) rise, remain unchanged
E) fall, rises
A
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The global financial crisis of 2007-2009 not only led to a worldwide recession, but also a ________ in the European nations that use the euro currency
A) currency devaluation B) budget surplus C) sovereign debt crisis D) tax cut
Economic efficiency entails
A) producing a given amount of output with the most expensive mix of inputs. B) producing a given amount of output with the least number of inputs. C) producing a given amount of output with the most inputs. D) producing a given amount of output with the cheapest mix of inputs.
Within the Keynesian aggregate expenditures model, which of the following autonomous changes would decrease the equilibrium output?
A. A decrease in investment spending. B. An increase in net exports. C. An increase in government spending. D. An increase in consumption expenditures
The ability to share work and share risk is an advantage for
A) sole proprietorships and partnerships. B) sole proprietorships. C) sole proprietorships and corporations D) partnerships.