Which of the following will shift the Keynesian short-run aggregate supply curve downward and to the right?
A. a rise in the price level
B. an increase in input costs
C. a decrease in input costs
D. a fall in the price level
Answer: C
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If an economy produces 5,000 units of output with a price level of $1 and with a velocity of money of 4, we know that the money supply must be:
A. $4,000. B. $1,250. C. $2,500. D. $5,000.
Any costly activity firms undertake to protect their monopoly status is referred to as
a. market power b. price-setting behavior c. rent seeking d. economies of scale e. legal intervention
Hector voluntarily left his job to search for a job in accounting, the field in which he has his bachelor's degree. Hector is considered:
A. structurally unemployed. B. cyclically unemployed. C. frictionally unemployed. D. not to be unemployed.
If you are anticipating having to pay $100,000 to a lender 10 years from now and the interest rate rises, the present value of this sum
A. falls. B. rises. C. first rises, then falls. D. remains unchanged.