Figure 15-3
As shown in , if people behave according to adaptive expectations theory, an increase in the aggregate demand curve from AD1 to AD2 will cause the economy to move
a.
directly from E1 to E3 and then remain at E3.
b.
directly from E1 to E2 and then remain at E2.
c.
from E1 to E2 initially and then eventually move back to E1.
d.
from E1 to E2 initially and then eventually move to E3.
d
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Average per-capita GDP in the richest, most prosperous economies is ________ times that of the average in the ________ economies
A) 95, low (poorest) income B) 95, lower-middle income C) 73, lower-middle income D) 44, low (poorest) income E) 69, low (poorest) income
Suppose the U.S. can produce 10 units of food and five units of clothing (or any such linear combination) and Canada can produce six units of food and four units of clothing (or any such linear combination)
If trade occurs between these two countries, which should produce more food and which more clothing?
If the demand curve facing the monopolist is P = 70 ? 14Q, then the slope of its marginal revenue curve is:
A. ?35. B. ?7. C. ?28. D. ?14.
An individual bank can create deposits to the extent of its
A. excess reserves. B. required reserves. C. total reserves. D. deposits.