An increase in input prices will cause the aggregate supply curve to shift rightward
a. True
b. False
Indicate whether the statement is true or false
False
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To two hunters, a deer running in a forest is
A) nonrival and nonexcludable. B) nonrival and excludable. C) rival and nonexcludable. D) rival and excludable.
Which of the following is a flow in the circular flow model?
A) the flow of profit and the flow of revenue B) the flow of income earned by firms and the flow of expenditures earned by households C) the flow of revenue received by firms and the flow of payments to resource owners D) the flow of goods and services from households to firms
Rightward AS shifts will cause
A. Leftward Phillips curve shifts. B. Rightward Phillips curve shifts. C. Movements down and to the right along the existing Phillips curve. D. Movements up and to the left along the existing Phillips curve.
Which of the following treaties/agreements would be associated with creating a free trade area for the European Union?
A) Treaty of Rome B) Single Europe Treaty C) Delors Agreement D) Schengen Agreement