Which of the following will lead to a leftward shift in the U.S. SRAS curve?
A) a decrease in foreign input prices
B) an appreciation of the dollar
C) a depreciation of the dollar
D) a and b
E) none of the above
C
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Suppose the United States can produce either 15,000,000 cars or 20,000,000 bottles of wine in a year and France can produce 10,000,000 cars or 18,000,000 bottles of wine in a year. This implies that:
a. the United States has a comparative advantage in the production of wine. b. France has a comparative advantage in the production of cars c. the United States has an absolute advantage in the production of cars. d. France has an absolute advantage in the production of wine.
Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS)?
A. an increase in oil prices B. an advance in technology C. an increase in the CPI D. an increase in the long-run aggregate supply curve (LRAS)
Consider Figure 12.3. If Becky's payoff in the second rectangle from the top were 80 instead of 60, the outcome of the game would be that:
A. both choose a high price. B. both choose a low price. C. Becky chooses a high price and David chooses a low price. D. David chooses a high price and Becky chooses a low price.
An example of third-party financing of health care is
A) patients paying for their visit to the doctor. B) patients not going to the doctor in order to save money. C) a patient going to another doctor for a second or a third opinion. D) Medicare.