Suppose the equilibrium price of bottled water has risen from $1.00 per bottle to $2.00 per bottle and the equilibrium quantity has increased. These changes are a result of a ________ shift of the ________ curve for bottled water
A) rightward; demand
B) rightward; supply
C) leftward; supply
D) leftward; demand
A
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When firms decide how much labor to hire, one of the factors that influences them is the
A) nominal wage rate plus the inflation rate. B) nominal wage rate divided by the price level and then multiplied by 100. C) nominal wage rate minus the inflation rate. D) real wage rate plus the inflation rate. E) nominal wage rate divided by the inflation rate and then multiplied by 100.
In the circular flow diagram, aggregate expenditure includes the sum of
A) saving and investment. B) consumption and investment. C) consumption, investment, and saving. D) income and saving.
The only reason that exchange rates change is because overall price levels in the countries change
Indicate whether the statement is true or false
The portion of the short-run aggregate supply that reflects the economy's resources are not fully employed is the:
A) vertical portion. B) horizontal portion. C) upward sloping portion. D) none of the above.