Refer to Figure 24-2. Ceteris paribus, a decrease in the expected future price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
A
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The key factor leading to the financial crises in Mexico and the East Asian countries was
A) a deterioration in banks' balance sheets because of increasing loan losses. B) severe fiscal imbalances. C) a sharp increase in the stock market. D) a sharp decline in interest rates.
Forms of federal taxation used to finance the war did not include:
a. the income tax. b. the corporate tax. c. the excess profits tax. d. sales tax.
Assume Victoria's indifference curves are bowed outward but her indifference curves satisfy the other three properties of indifference curves. As Victoria moves from right to left along the horizontal axis, her marginal rate of substitution
a. increases. b. decreases. c. remains constant. d. increases, then decreases.
Which of the following does NOT shift the supply curve?
A) a technological advance B) a decrease in the wages of labor used in production of the good C) a fall in the price of a substitute in production D) an increase in the price of the good