An increase in nonlabor input costs will:
a. Increase SRAS
b. Decrease SRAS.
c. Decrease LRAS.
d. Both b. and c.
b
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The total value of capital in the United States is around
A) $50 trillion. B) $10 trillion. C) $79 trillion. D) $100 trillion. E) $145 trillion.
Collateralizable wealth is
A) wealth in non-tangible assets. B) any asset that can be used to obtain a loan. C) wealth that increases and income increases. D) wealth based on mortgage lending.
The income elasticity for cars is high. This is best illustrated by which of the following?
(a) College students buy a high percentage of the lower priced, dependable foreign cars. (b) The purchase of all hybrid cars increases in response to the call to reduce the auto's footprint. (c) U.S. cars built by foreign automakers sold at relatively lower prices than their equal American counterparts. (d) All of the above.
Federal government spending as a percentage of GDP was the highest since 1960 during: a. the Great Depression
b. the aftermath of the oil crisis in the Gulf nations. c. World War II. d. the aftermath of the Great Recession.