Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2.
B. P2 and Y3.
C. P3 and Y1.
D. P2 and Y2.
Answer: B
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The limits of the terms of trade between two countries are determined by those countries' opportunity costs of production
a. True b. False
Unemployment compensation payments
a. rise during a recession and thereby help stimulate consumption. b. rise during a recession and thereby retard consumption. c. rise during economic expansion and thereby help stimulate consumption. d. rise during economic expansion and thereby retard consumption.
For which of the following time periods did the United States have a budget surplus?
A. 1990–1993 B. 1998–2001 C. 2003–2006 D. The United States did not have a surplus in any of these time periods.
Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. A decrease in the number of cattle ranchers will cause a movement from
A. Point G to Point F. B. Point A to Point B. C. S1 to S2. D. D2 to D1.