________ have a horizontal and a vertical axis and are used in economics to illustrate relationships between two economic variables
A) One-dimensional graphs B) Two-dimensional graphs
C) Bar graphs D) Pie Charts
B
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When industrial activity increases,
A) GDP decreases because of pollution. B) pollution does not necessarily increase. C) health and life expectancy decrease. D) and real GDP increases, it is the case that in all nations fewer resources are devoted to protecting the environment. E) the increase in real GDP is partially offset by the increase in pollution.
When the economy experiences a permanent supply side shock that shifts the long-run aggregate supply to the right, the short run aggregate supply curve will:
A. begin by shifting left initially, and then be pulled right by the long-run aggregate supply over time. B. gradually shift right until it reaches long-run aggregate supply and the new long-run equilibrium. C. instantly shift left with the long-run aggregate supply to the new long-run equilibrium. D. None of these is true.
Assume that an economy experiences both positive population growth and technological progress. In this economy, which of the following is constant when balanced growth is achieved?
A) K B) NA C) K/N D) Y/NA E) none of the above
Suppose the intersection of the IS and LM curves is to the left of the FE line. What would most likely eliminate a disequilibrium among the asset, labor, and goods markets?
A. A rise in the price level, shifting the IS curve up and to the right B. A fall in the price level, shifting the LM curve down and to the right C. A fall in the price level, shifting the IS curve down and to the left D. A rise in the price level, shifting the LM curve up and to the left