Which of the following will shift the aggregate supply curve upward?
a. A decrease in world oil prices
b. Bad weather, which increases farmers' costs per unit of output
c. Increases in consumer spending
d. An increase in the price level
e. Technological changes that improve worker productivity
B
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An increase in the money supply would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.
The regulator that determines the permissible activities any bank may engage in is the
A) Federal Reserve. B) FDIC. C) House Banking Committee. D) Comptroller of the Currency.
Intergovernmental revenue is an insignificant source of state and local revenue
a. True b. False
If you believe that velocity is constant and that the aggregate supply curve is horizontal, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of the
a. price level and real output. b. price level. c. price level and no change in real output. d. real output.