If a new method is found for obtaining oil from what was once considered exhausted oil fields, then its effect on the economy now will be that
a. the AS curve shifts to the left
b. an upward movement along the AD curve will occur
c. the AD curve shifts to the left
d. the AD curve shifts to the right
e. the AS curve shifts to the right
E
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Which of the following is NOT a reason the Fed alters the rate of growth of the money supply?
A) to influence aggregate demand B) to influence the amount of consumption C) to influence the amount of investment D) to shift the demand for money curve
If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are
A) a substitute for camcorders. B) a complement to camcorders. C) an inferior good. D) a normal good. E) made using advanced technology.
If a consumer's budget line for food (F) and shelter (S) is represented as F = 250 - 5S, and 50 units of food is purchased, how many units of shelter can be purchased at most?
A) 0 B) 40 C) 60 D) 80
When there is only one buyer in a market, there is a
A) buyer's monopoly. B) monopoly. C) monopsony. D) buyer's cooperative.