Which of the following changes aggregate supply and shifts the AS curve?
i. a change in the price of a major resource
ii. increases in the amount of capital
iii. a change in the money income of consumers
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
D
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Suppose that each of 8,000 firms in a perfectly competitive industry produces 1,000 units of a good and maximizes profits when the price of the good is $10
If there is a permanent increase in demand, in the short run each firm produces ________ 1,000 units and in the long run the number of firms is ________ 8,000. A) more than; more than B) less than; more than C) less than; less than D) more than; less than E) exactly; more than
In the absence of the negative externality from each individual's contribution to road congestion, roads would not be congested (aside from congestion caused by accidents).
Answer the following statement true (T) or false (F)
In 1964 a certain foreign bank opened a branch in the United States. That branch
A) has always been allowed to underwrite securities. B) has never been allowed to underwrite securities. C) gained the right to underwrite securities by the International Banking Act of 1978. D) lost the right to underwrite securities by the International Banking Act of 1978.
The income approach to measuring GDP includes:
a. compensation for employees, net interest, rent, net profits, and indirect business taxes and depreciation. b. compensation for employees, net interest, rent, corporate profit, and transfer payments. c. compensation for employees, net interest, rent, and indirect business taxes. d. compensation for employees, net interest, rent, corporate profits, and capital depreciation. e. compensation for employees, rent, corporate profits, proprietors' income, and transfer payments.