An increase in aggregate demand is shown by a
A) rightward shift of the AD curve.
B) movement upward along the AD curve.
C) movement downward along the AD curve.
D) leftward shift of the AD curve.
A
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When a product transformation curve for a firm is bowed inward, there are ________ in production
A) economies of scope B) economies of scale C) diseconomies of scope D) diseconomies of scale
Which of the following is the category to which the largest portion of households' personal income is allocated?
a. taxes collected by government b. savings c. purchases of services d. purchases of durable goods e. purchases of nondurable goods
The negative slope of the demand curve reflects the
a. positive relationship between price and quantity b. proportional relationship between price and quantity c. inverse relationship between price and quantity d. positive relationship between income and quantity e. inverse relationship between income and price
Suppose that productivity-enhancing technological progress affected more the production of chairs than the production of tables. This can be depicted using a production possibilities frontier in which
A) only the chair axis intercept increases. B) only the table axis intercept decreases. C) both intercepts increase; however, the chair intercept increases by more. D) both intercepts increase; however, the chair intercept increases by less.