Which of the following would cause prices to fall and output to rise in the short run?
a. Short-run aggregate supply shifts right.
b. Short-run aggregate supply shifts left.
c. Aggregate demand shifts right.
d. Aggregate demand shifts left.
A
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A surprising outcome of the Rock-Paper-Scissors game is that
A) it is a clear example of a first mover advantage. B) there is no pure-strategy Nash equilibrium. C) it is best not to play the game. D) it is a good way to determine who goes first in a sequential move game.
Why do markets tend to underproduce public goods?
What will be an ideal response?
The above figure gives your budget line between CDs and magazines. What would allow you to buy more CDs?
A) a decrease in the relative price of CDs B) an increase in income C) a decrease in the price of magazines with no change in the price of CDs D) All of the above changes would allow you to buy more CDs.
The government program that provides low-income people with government-issued stamps that can be redeemed for specific food items at food stores and supermarkets is the
a. emergency aid program b. food stamp program c. school lunch program d. hunger relief program e. meals on wheels program