A decline in expected future output would cause the IS curve to
A) shift up and to the right.
B) shift down and to the left.
C) remain unchanged.
D) shift up and to the right only if people face borrowing constraints.
B
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Most consumers in stores use marginal analysis to make their buying decisions.
Answer the following statement true (T) or false (F)
The value of output was $100 billion in Northland and $200 billion in Southland. The population of Northland was 50 million and the population of Southland was 30 million. There were 30 million employed workers in Northland and 20 million employed workers in Southland.
A. Northland; the same in both countries B. Northland; higher in Northland C. Southland; higher in Southland D. Southland; the same in both countries
Which one of the following is the best example of an oligopolistic industry?
A. long-distance telephone service B. wheat growers C. apple growers D. public utilities
The ability to exercise control over one's own resources within the confines of the law refers to
A) the free market. B) one's property rights. C) entrepreneurship. D) having an absolute advantage.