A decrease in the price of crude oil would most likely ________.
A. increase aggregate demand in the U.S.
B. decrease aggregate demand in the U.S.
C. decrease aggregate supply in the U.S.
D. increase aggregate supply in the U.S.
Answer: D
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The household survey asks adults about their employment status and is used to compile the monthly unemployment rate
Indicate whether the statement is true or false
If intended investment is $500 billion, and actual investment is $620 billion, then we know that
a. consumption is $620 billion b. unwanted inventory is $620 billion c. consumption is $120 billion d. unwanted inventory is $120 billion e. saving is $500 billion
Terry buys 10 pounds of cheese and 12 boxes of crackers each month. A pound of cheese costs $5 and a box of crackers costs $3. If she is maximizing her utility, what is her monthly income?
B. $90 C. $80 D. There is not enough information to determine her monthly income.
Other things remaining the same, which of the following is likely to decrease both the wage rate and the number of workers hired in a tea estate?
A) An increase in the price of tea B) A decrease in the price of tea C) A decrease in the opportunity cost of leisure D) An increase in the opportunity cost of leisure