Refer to Figure 12-10. The firm's short-run supply curve is its
A) marginal cost curve. B) marginal cost curve from d and above.
C) marginal cost curve from b and above. D) marginal cost curve from c and above.
C
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The large increase in household wealth in the United States in the 1990s was the result of:
A. large capital gains. B. a low saving rate. C. a high saving rate. D. high rates of inflation.
As a result of higher expected inflation,
A) the demand and supply curves for loanable funds both shift to the right and the equilibrium interest rate usually rises. B) the demand and supply curves for loanable funds both shift to the left and the equilibrium interest rate usually falls. C) the demand curve for loanable funds shifts to the right, the supply curve for loanable funds shifts to the left, and the equilibrium interest rate usually rises. D) the demand curve for loanable funds shifts to the left, the supply curve for loanable funds shifts to the right, and the equilibrium interest rate usually rises.
When there is an interval between when the fiscal policy changes and corresponding changes in aggregate spending, we have a(n)
A) aggregate time lag. B) action time lag. C) recognition time lag. D) effect time lag.
The long-run level of RGDP changes whenever the aggregate demand curve shifts
a. True b. False Indicate whether the statement is true or false