A decrease in interest rates will immediately shift
A. aggregate supply to the left.
B. aggregate supply to the right.
C. aggregate demand to the left.
D. aggregate demand to the right.
Answer: D
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When the government deliberately alters its level of spending and/or taxes in order to achieve specific national economic goals, it is exercising
A) a laissez-faire policy. B) discretionary fiscal policy. C) monetary policy. D) a Ricardian policy.
When an economy relies on specialization,
A) the economy will generally produce only one product. B) the economy will usually be heavily agricultural. C) each individual in the economy produces the goods or services for which he or she has relatively the best ability. D) each individual will be assigned by the government to produce that good or service the government believes the economy should specialize in.
What best describes the economic standing of the colonies on the eve of the Revolution?
a. The colonies were one of the richest nations in the world and had very little income inequality because of the many opportunities that existed. b. The colonies had a low per capita income and had little income inequality. c. The colonies were one of the richest nations in the world and had a significant amount of income inequality. d. The colonies had a low per capita income and had a significant amount of income inequality.
The Celler-Kefauver Act deals primarily with which of the following issues?
a. Price discrimination. b. Exclusive dealing. c. Mergers. d. Deceptive advertising. e. Boards of directors.