If aggregate demand just increased, which of the following may have caused the increase?
A) an increase in government purchases
B) an increase in the interest rate
C) an increase in the price level
D) an increase in imports
Answer: A
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Which of the following will cause the demand curve for cable TV services to shift to the left?
A) a rise in the price of cable TV services B) a decrease in average incomes of cable TV subscribers C) an increase in population D) the creation of several hit TV series
The Federal Reserve Board of Governors consists of
a. seven members who serve 6-year terms b. 12 members who serve 14-year terms c. seven members who serve 4-year terms d. 12 members who serve 4-year terms e. seven members who serve 14-year terms
Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates. In the long run we should expect:
A. firms to enter the industry, market supply to rise, and product price to fall.
B. firms to leave the industry, market supply to rise, and product price to fall.
C. firms to leave the industry, market supply to fall, and product price to rise.
D. no change in the number of firms in this industry.
Common pool resources differ from pure public goods in that
A) common pool resources are resources that cannot be renewed but the production of pure public goods can be increased at any time. B) common pool resources are nonexcludable while pure public goods are excludable to those who do not pay of the good. C) unlike pure public goods, common pool resources are rival in consumption. D) common pool resources are collectively owned by a group of people while pure public goods are owned by the government.