A depreciation of the U.S. dollar against foreign currencies tends to __________ U.S. net exports and shift the U.S. AD curve to the __________
A) raise; right
B) raise; left
C) lower; right
D) lower; left
A
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Macroeconomic equilibrium occurs when
A) there is no inflation. B) real GDP is equal to potential GDP. C) the aggregate quantity demanded is equal to the aggregate quantity supplied. D) the economy is fully employed. E) the price level equals the potential price level.
Surpluses will help future generations more than deficits will hurt future generations due to inflation and taxes.
A. True B. False C. Uncertain
We say that goods are complements when they:
A. serve similar-enough purposes that a consumer might purchase one in place of the other. B. are consumed together, so that purchasing one will make a consumer more likely to purchase the other. C. change a consumer's preferences for a good or service. D. can replace something consumers typically purchase at a significantly lower price.
If a good's price increases by 2 percent, then its quantity supplied increases by more than 2 percent. This means
A) supply is elastic. B) supply is unit-elastic. C) supply is inelastic. D) the good has good substitutes.