An increase in demand combined with no change in supply
A) raises the equilibrium price.
B) lowers the equilibrium price.
C) results in only a movement rightward along the demand curve.
D) decreases demand because the supply curve does not shift.
A
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Autonomous expenditure includes
A) consumption expenditure, investment, and net taxes. B) investment, government expenditure on goods and services, and exports. C) consumption expenditure, investment, and imports. D) investment, government expenditure for goods and services, and imports. E) consumption expenditures, investment, and exports.
The circular flow diagram shows only the aggregate expenditures measure of GDP
Indicate whether the statement is true or false
A scatter diagram with the price of peanut butter on the vertical axis and the price of jelly on the horizontal axis shows a negative relationship
If the price of jelly was placed on the vertical axis and the price of peanut butter was placed on the horizontal axis, the relationship would be a A) negative relationship, also called a direct relationship. B) negative relationship, also called an inverse relationship. C) positive relationship, also called a direct relationship. D) positive relationship, also called an inverse relationship.
If the economy is in an inflationary gap, actual income is
A. to the right of LRAS B. to the left of LRAS C. on LRAS D. above LRAS