For typical goods, supply curves are
A) downward sloping.
B) upward sloping.
C) horizontal.
D) vertical.
Answer: B
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The real balance effect (wealth effect), the interest rate effect, and the net exports effect all help to explain the:
a. decrease in supply in the loanable funds market. b. large federal budget deficit. c. increase in short-run aggregate supply. d. downward-sloping aggregate demand curve.
Inflation is a rise in the price level. If it is caused primarily by a decrease in aggregate supply, then we refer to it as
a. demand-push inflation b. cost-pull inflation c. demand-pull inflation d. cost-push inflation e. supply-push inflation
People of Moifo, a small island country, use oranges in exchange for various goods and services. If all the oranges are of uniform quality, which of the following is likely to cause a collapse of the orange currency in Moifo? a. Oranges cannot serve as a medium of exchange. b. Oranges cannot serve as a unit of account
c. Oranges cannot store value. d. Oranges are not grown in the territory of Moifo.
Refer to the scenario above. Beth should use ________ to win this game
A) a mixed strategy B) forward induction C) backward induction D) her dominant strategy