An increase in wealth would shift the:
A) aggregate demand curve rightward.
B) aggregate demand curve leftward.
C) aggregate supply curve rightward.
D) aggregate supply curve leftward.
A
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In order for a country to achieve more consumer goods in the future, it must
A. allocate more resources toward investment today. B. devote more resources toward consumer goods today. C. have a faster economic growth rate in the future. D. devote more resources to consumer goods in the future.
The only factor that can cause movement along the aggregate supply curve is the
A. labor force. B. capital stock. C. availability of resources. D. price level. E. All of these responses are correct.
Suppose the prices of petroleum products, including gasoline and fuel oil, fell sharply. Which of the following would most likely occur as the result of the lower prices of petroleum products?
A. A reduction in the consumption of gasoline. B. An increase in demand for solar heating systems. C. An increase in demand for smaller, more efficient automobiles. D. A reduction in the demand for home insulation products.
In deriving the demand schedule for a good, economists assume that
A. reported income changes at each point on the demand schedule. B. consumers have equal incomes to allocate among goods. C. all other influences on demand except the product price are held constant. D. a consumer will allocate all of her income to one good.