When interest rates fall, the IS schedule will experience
A) rightward movement along the curve.
B) leftward movement along the curve.
C) a shift to the left.
D) a shift to the right.
A
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If public goods can be produced more efficiently, then
A) public goods increase, and private goods may increase or decrease. B) public goods production stays the same, and private goods increase. C) public goods and private goods both increase. D) public goods production falls, and private goods production rises.
When OPEC raised the price of crude oil in the 1970s, it caused the
a. supply of gasoline to decrease. b. quantity of gasoline demanded to decrease. c. equilibrium price of gasoline to increase. d. All of the above are correct.
The potential conflict of economic policy with political objectives can be used to explain
A. The ups and downs in overall business activity. B. The election of the Federal Reserve's Board of Governors. C. Illegal behavior on the part of politicians and economists. D. Why politicians stimulate the economy before an election and restrict it afterward.
Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).Recall the Application. An increase in the production of beer resulted in the demand for hops because hops are ________ to beer.
A. inputs B. completely unrelated C. complements D. substitutes