The supply curve slopes upward when graphed against ________, because of ________
A) the price of the good; increasing marginal cost
B) the price of the good; decreasing marginal cost
C) income; increasing marginal cost
D) income; decreasing marginal cost
A
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How does a rise in real income affect aggregate demand?
A) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by more. B) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by more. C) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, and Y ? implies Yd ? implies C ? implies AD ?. D) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by less. E) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by less.
Short-run contractions and expansions in economic activity are called
A) recessions. B) expansions. C) deficits. D) the business cycle.
A U.S. grocery chain purchases olive oil from Tunisia and sells it to U.S. consumers. In which of the following is this transaction included?
a. U.S. consumption and U.S. imports b. U.S. consumption but not U.S. imports c. U.S. imports but not U.S. consumption d. neither U.S. consumption nor U.S. imports
The most effective way to reduce our current account deficit would be to
A. lower our service trade deficit. B. lower our merchandise trade deficit. C. raise our capital account surplus. D. lower our capital account surplus.