When economists say that the supply for a product has increased, they mean that the
A. supply curve has shifted to the left.
B. product has become particularly scarce for some reason.
C. product has become more expensive and thus consumers are buying less of it.
D. supply curve has shifted to the right.
Answer: D
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Inflation ________ the signals sent by price changes to demanders and suppliers of goods and services.
A. has no impact on B. amplifies C. enhances D. obscures
Assume that the M1 multiplier is 3.0 and the monetary base is $200 billion. If M1 is currently equal to $600 billion and the Federal Reserve wishes to raise the level to $690 billion, the monetary base should be expanded by
A) $60 billion. B) $30 billion. C) $20 billion. D) $10 billion.
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.
Another way of stating that investment is independent of real disposable income is to say that it is
A. complementary. B. autonomous. C. substitutable. D. inversely related.