An increase in short-run aggregate supply shifts the curve ______.
a. from SRAS2 to SRAS1
b. from LRAS2 to SRAS1
c. from SRAS1 to LRAS1
d. from SRAS1 to SRAS2
d. from SRAS1 to SRAS2
You might also like to view...
Prices are commonly measured in "dollars per unit." In this context, the term dollar as used by the microeconomist
a. is another term for currency. b. refers to a representative basket of goods in the economy. c. represents the resources used in the production of the good being considered. d. means that the price has been adjusted for inflation.
Price ceilings set below the equilibrium price cause
A) shortages. B) surpluses. C) a new market equilibrium. D) a greater number of exchanges.
The Congress of Industrial Organization (CIO) was founded by
A) Samuel Gompers. B) Jimmy Hoffa. C) John L. Lewis. D) George Meany.
In the first calendar quarter a company issues a surprising report saying that it expects profits to rise in the fourth quarter. The theory of efficient markets says we should expect the price of the company's stock to:
A. rise around the third quarter since this information will take time to disseminate. B. rise immediately on the expectation of higher profits in the future. C. fall immediately as stockholders will be disappointed about having to wait until the fourth quarter for higher profits. D. rise in the fourth quarter when the higher profits are actually seen.