Suppose there is a reduction in expected future output. This will cause which of the following to occur?
A) the IS curve to shift left in the current period
B) the IS curve to shift right in the current period
C) the LM curve to shift up in the current period
D) the LM curve to shift down in the current period
A
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When the price level falls,
A. real income rises. B. real income falls. C. real GDP demanded increases. D. real GDP demanded decreases.
Answer the following statement(s) true (T) or false (F)
Not all customers are created equal. Nor is every transaction equally important.
The longer any price change lasts over time, the
A) more difficult it is to alter quantity demanded. B) the more quickly quantity demanded will return to its original level. C) the longer the short-run equilibrium will continue to be the short-run equilibrium. D) more quantity demanded will change.
Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, approximately ________ took the form of tax cuts and ________ took the form of increases in government expenditures
A) one-half; one-half B) three-fourths; one-fourth C) one-tenth; nine-tenths D) one-third; two-thirds