Any factor that reduces resource availability causes
a. the aggregate demand curve to shift to the right
b. the aggregate demand curve to shift to the left
c. the aggregate supply curve to shift to the right
d. the aggregate supply curve to shift to the left
e. a movement to the left along the existing aggregate supply curve
D
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Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations
A) the same as B) higher than C) lower than D) more variable than
Measures of well-being include: a. pollution levels
b. infant mortality rates. c. literacy rates. d. all of the above.
If the tax is $500 on an income of $2,500, the income tax rate is
a. 20 percent b. 25 percent c. 10 percent d. 5 percent e. 50 percent
Once decision makers fully adjust to an increase in prices,
a. the natural rate of unemployment will decline. b. competitive forces will restore the usual relationship between product prices and costs. c. producers' profits will exceed their normal level. d. producers will expand output beyond the economy's potential.