Which of the following will cause a leftward shift in the aggregate demand curve?
A. a reduction in government spending
B. an increase in taxes
C. a reduction in the money supply
D. all of these
Answer: D
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If average variable cost is decreasing as output increases, then marginal cost is definitely
A) decreasing as output increases. B) increasing as output increases. C) less than average variable cost. D) greater than average variable cost.
The rise in European protectionism helped the U.S. economy by increasing foreign demand for agricultural goods
Indicate whether the statement is true or false
According to the graph shown, the monopolistically competitive firm will charge a price:
These are the cost and revenue curves associated with a monopolistically competitive firm.
A. P3 in the short run, and earn positive profits.
B. P2 in the long run, and earn zero profits.
C. P3 in the long run, and earn zero profits.
D. P2 in the short run, and earn positive profits.
If the quantity demanded of milk is 55,000 gallons and the quantity supplied of milk is 80,000 gallons, then
a. there is an excess supply of 25,000 gallons of milk b. the price of milk will rise to clear the market c. consumers get the milk they demand so equilibrium exists d. there is an excess demand of 25,000 gallons of milk e. the supply curve is greater than the demand curve