Technological breakthroughs, such as the Internet, can be shown with a rightward shift of the aggregate supply curve.
Answer the following statement true (T) or false (F)
True
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According to this Application, the Fed increased its lending by hundreds of billions of dollars to financial institutions as a response to the ongoing financial crisis
This increase in loans to financial institutions increased the supply of money in the economy. When the supply of money increases, the money supply curve will A) shift to the right, increasing the interest rate. B) shift to the left, increasing the interest rate. C) shift to the right, decreasing the interest rate. D) shift to the left, decreasing the interest rate.
If the price of tangerines increases, the price of oranges also rises because
A) buyers' incomes must have decreased, and oranges are an inferior good. B) if the supply of tangerines decreased, then the supply of oranges also must decrease. C) buyers must have expected a higher price for oranges and thus increased their demand for oranges. D) consumers consider the two goods complements, and so sellers decreased the supply of oranges. E) consumers consider the two goods substitutes, and demand for oranges increases.
Refer to Figure 10-8. Given the budget constraint in the diagram, which of the following statements is false?
A) Consumption bundles b and c yield the same level of utility, which is higher than the utility represented by bundle a. B) The consumer's optimal bundle could be bundle d, e, or f. C) Although the consumer receives the same level of utility from bundles d and e, she cannot afford to purchase bundle d. D) The consumer receives the same level of utility from consumption bundles d, e, and f.
What can a nation do to increase its economic growth? Why is economic growth among the major national economic goals of all countries?
What will be an ideal response?