For a given level of inflation, if concerns about future weakness in the economy cause businesses to reduce their spending on new capital, then the ________ shifts ________.
A. aggregate demand curve; left
B. short-run aggregate supply line; downward
C. aggregate demand curve; right
D. short-run aggregate supply line; upward
Answer: A
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In 1961, real GDP totaled $575 billion and in 2011 it totaled $1,255 billion. Between 1961 and 2011, the population increased from 50 million to 100 million. Between 1961 and 2011, the standard of living based on real GDP per person
A) decreased from $125,500 to $28,750. B) increased by about 118 percent. C) increased from $11,500 to $12,550. D) decreased by 9 percent. E) increased by over 300 percent.
How is the quantity theory of money different from the quantity equation, and why must the quantity equation always be true?
What will be an ideal response?
The airline and trucking industries came under regulation during the:
a. 1920s. b. 1930s. c. 1960s. d. 1970s.
When quantity demanded is greater than quantity supplied, market price is ________ the equilibrium price.
Fill in the blank(s) with the appropriate word(s).