In the 1990s, the rising value of the U.S. dollar made imported goods cheaper and this shifted the
a. aggregate demand curve outward.
b. aggregate supply curve inward.
c. aggregate supply curve outward.
d. total expenditures curve upward.
c
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It has been noted that a country that grants a considerable amount of economic freedom will experience
A) positive rates of per capita income growth. B) low levels of political freedom. C) dead capital. D) negative rates of per capita income growth.
A resource that is a common property is
A) oil on land owned by a drilling and refining company. B) natural gas on land owned by an energy producer. C) timber on land owned by a lumber company. D) water in a publicly owned river.
Which of the following is included in M1?
A. Certificates of deposit. B. Treasury bills. C. Balances in transactions accounts. D. Balances in savings accounts.
In the short run, a monopoly should shut down whenever
a. marginal revenue exceeds marginal cost b. price is less than average total cost c. total revenue is less than total cost d. price exceeds the ratio of marginal cost to average cost at the optimal output e. price is less than average variable cost everywhere