If the Fed were to announce that fighting inflation is not a high priority for the immediate future ________
A) households might expect higher inflation
B) the short run aggregate supply would shift upwards
C) firms might begin raising their prices to keep up with expected inflation
D) all of the above
E) none of the above
D
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When supply is perfectly inelastic, the supply curve is
A) upward sloping but not a straight line. B) vertical. C) downward sloping. D) horizontal. E) a straight line with a 45 degree slope that goes through the origin.
In what way do developing countries make the largest contribution to the global concentrations of greenhouse gases?
(a) vehicle emissions. (b) deforestation. (c) mining. (d) irrigation.
Trade restrictions:
A. increase the cost or difficulty of making exchanges across national borders. B. discourage people from fully taking advantage of lower prices in other countries. C. can explain why purchasing power parity doesn't typically hold. D. all of the above statements are true.
A simultaneous increase in demand and supply leads to an increase in price
Indicate whether the statement is true or false