Use the following graph to answer the next question.
Other things equal, a shift of the aggregate supply curve from AS0 to AS1 might be caused by a(n) ________.
A. decrease in aggregate demand
B. increase in productivity
C. decrease in nominal wages
D. increase in government regulation
Answer: D
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As a result of an increase in tariffs, imports decrease and government revenue increases
Indicate whether the statement is true or false
If a gamble has an expected value of $10, then one can predict that:
A. all risk-neutral people will take the gamble. B. only risk-averse people will take the gamble. C. the gamble never pays out more than $10. D. no risk-averse person will take the gamble.
The Grangers would most likely support which policy?
a. Price controls on grain operators b. Price deflation c. A strong commitment to backing currency only with gold d. Federal government aid to railroads
One difference between moral hazard and adverse selection is
a. Adverse selection has to do with unobservable characteristics of individuals b. Moral hazard has to do with unobservable actions of individuals c. Adverse selection is individuals change their behaviors because of a contract d. Only A&B