Which of the following changes aggregate supply and shifts the aggregate supply curve?
i. change in the price level
ii. change in potential GDP
iii. change in the money wage rate
A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
D
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If foreign investment in the United States exceeds U.S. investment abroad, there is a ________; and when U.S. investment abroad exceeds foreign investment in the United States, there is ________
A) current account surplus; a current account deficit B) current account surplus; an official accounts surplus C) capital and financial account surplus; a capital and financial account deficit D) capital and financial account deficit; a capital and financial account surplus
Refer to Figure 29-1. The depreciation of the euro is represented as a movement from
A) C to D. B) B to C. C) B to A. D) D to A.
The main reason that President Clinton was forced to revise his campaign promise to cut taxes was that, in 1993, he faced a large
a. balance of payments surplus. b. balance of payments deficit. c. federal budget deficit. d. federal budget surplus.
Which of the following most correctly states the law of demand?
A) As the price falls all other things unchanged, demand will go up. B) As the price goes up, all other things unchanged, demand will go down. C) As the price falls, all other things unchanged, the quantity demanded will go down. D) As the price falls, all other things unchanged, the quantity demanded will increase.