A restrictive monetary policy is designed to shift the aggregate ________.
A. demand curve to the left
B. supply curve to the right
C. demand curve to the right
D. supply curve to the left
Answer: A
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In the aggregate expenditure model, which of the following variables is assumed to be independent of real GDP?
A. consumption B. saving C. investment D. profit
A firm producing bottled water reports the following production information:
# of Workers Total Product (gallons of water per hour) 0 0 10 1750 20 2750 30 3550 40 4150 50 4550 60 4750 The bottled water sells in a competitive market at a price of 10 cents per gallon. The firm hires workers in a competitive labor market at a wage of $7 per hour. The firm is currently hiring 20 workers and is considering hiring another 10 . What would you recommend the firm do? Why?
An explanation for the productivity slowdown from 1974 through 1995 is
A) measurement problems. B) an increase in labor quality. C) creative destruction. D) a decline in oil prices.
Historically, the most important cause of government budget deficits is
a. cutting taxes. b. printing up too much money. c. financing wars. d. electing liberal politicians. e. business cycles.