In the graph showing aggregate demand and aggregate supply after a negative supply shock, we can see that high energy prices in the late 1970s caused ______.
a. a leftward shift in the aggregate demand curve
b. a rightward shift in the aggregate demand curve
c. a leftward shift in the short-run aggregate supply curve
d. a rightward shift in the short-run aggregate supply curve
c. a leftward shift in the short-run aggregate supply curve
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Refer to the table above. What will be the value of the gross domestic product of the country if the country runs a trade surplus of $30,000 next year, everything else remaining unchanged?
A) $378,000 B) $372,000 C) $407,000 D) $524,000
Money, such as gold, with some intrinsic value is called _____. Money with no intrinsic value is called _____
Fill in the blank(s) with correct word
During the start of an expansion, aggregate planned expenditure
A) exceeds real GDP. B) decreases the magnitude of the expenditure multiplier. C) increases the magnitude of the expenditure multiplier. D) is slowly decreasing. E) is less than real GDP.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.