Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply.
B. a reduction in aggregate demand.
C. an increase in long-run aggregate supply.
D. an increase in aggregate demand.
Answer: B
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The current international monetary system is best described as a: a. fixed exchange rate system. b. gold standard
c. dirty float system. d. free float system.
The Federal Reserve Board of Governors consists of
a. 50 members selected by state legislatures b. 12 members, one from each Federal Reserve District c. 12 members nominated by the President and confirmed by the Senate d. seven members elected by Congress e. seven members nominated by the President and confirmed by the Senate
Property owners move scarce resources toward the production of goods most valued by society because:
A. firms attempt to maximize profits. B. government controls the allocation of resources. C. managers are solely pursuing the interests of society. D. consumers demand inexpensive goods and services.
Which of the following statements would not be considered a positive? statement?
A. In 2013-2014, tuition at 4-year colleges grew at its slowest rate in 30 years. B. U.S. automobile sales increased by 13 percent in 2012, compared to 2011. C. The highest annual unemployment rate in the last 10 years was 9.6 percent. D. The vending machine outside the classroom needs a better selection of food.