Based on the figure above, the aggregate demand curve will shift from AD0 to AD2 when
A) potential GDP increases.
B) the price level falls.
C) taxes are lowered.
D) government expenditure increases.
E) the Federal Reserve raises the interest rate.
E
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Poverty is relative and not absolute.
A. True B. False C. Uncertain
Suppose the current equilibrium real wage is $15 an hour. Which of the following is true?
a. A real wage above $15 an hour would lead to an excess demand for labor b. A real wage above $15 an hour would lead to an excess supply of labor c. The real wage must fall to prevent unemployment d. The real wage must rise to prevent unemployment e. A real wage below $15 an hour would lead to an excess supply of labor
For a monopoly, MC = MR < P so that MC < MU.
Answer the following statement true (T) or false (F)
The total variable cost curve
A) increases as output increases. B) shows the variable cost of production given current factor prices. C) starts at the origin. D) All of the above