A decrease in the level of capital inside a nation would cause the:
A. long-run aggregate supply curve to shift to the right.
B. long-run aggregate supply curve to shift to the left.
C. short-run aggregate supply curve to shift to the right.
D. aggregate demand curve to shift to the right.
B. long-run aggregate supply curve to shift to the left.
You might also like to view...
The required reserve ratio is the minimum percentage of ________ that banks are required to hold by regulation
A) reserves as total assets B) deposits as total assets C) reserves as deposits D) deposits as reserves E) reserves as total liabilities
The marginal cost incurred by the entire society to produce a good or service is the
A) marginal external cost. B) marginal private cost. C) marginal social cost. D) marginal social benefit. E) marginal private benefit.
The five categories of income used in the income approach to the measurement of GDP are
A) consumption, saving, rental income, corporate profits, and investment. B) employee compensation, net interest, rental income, corporate profits, and proprietor's income. C) employee compensation, consumption, rental income, corporate profits, and proprietor's income. D) employee compensation, saving, rental income, corporate profits, and investment.
Why are observation and prediction more difficult for an economist than for a chemist?
a. Economists lack the scientific training that chemists have. b. Human behavior is more variable than the behavior of chemicals in a lab. c. Economists fails to use ceteris paribus as often as chemists do. d. Human behavior is basically irrational; chemicals behave as expected.