Refer to Figure 10.9. Other things equal, a decrease in the nominal money supply by the Fed is best represented as a change in equilibrium from
A) point A to point B.
B) point A to point D.
C) point C to point B.
D) point C to point D.
C
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
A firm's demand curve for labor shifts when the
a. price of its output changes. b. wage rate changes. c. number of available workers changes. d. All of the above are correct.
Suppose the Ivory Coast, a small country, imports wheat at the world price of $4 per bushel. If the Ivory Coast imposes a tariff of $1 per bushel on imported wheat, then, other things equal, the price of wheat in Ivory Coast will increase, but by less than $1
a. True b. False Indicate whether the statement is true or false
Which of the following was an element of the New Deal?
A. Wage and price controls B. Unemployment insurance and bank deposit insurance C. Regulation of the stock market D. Unemployment insurance, bank deposit insurance, and regulation of the stock market, but not wage and price controls