Which of the following shifts short-run, but not long-run aggregate supply right?
a. a decrease in the actual price level
b. a decrease in the expected price level
c. a decrease in the capital stock
d. an increase in the money supply
b
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The fungibility of money means that
A. the categories people create to organize their expenditures are meaningless in financial terms. B. people often create false distinctions between categories of debt. C. thinking large, one-time expenses should be paid off over a period of time, while everyday expenses should come out of your checking account, is irrational. D. All of these statements are true.
Which of the following is a property of an indifference curve? a. An indifference curve typically slopes downward
b. Two indifference curves always intersect. c. An indifference curve generally follows the principle of less is better. d. The value of utility changes along an indifference curve.
If a $10 trillion economy is growing at a real rate of 2.5 percent a year, what must this economy do to maintain a constant debt-to-GDP ratio?
A. Have increasingly smaller deficits B. Maintain a balanced budget C. Run increasingly larger surpluses D. Have increasingly larger deficits
In a perfectly competitive market, a firm's short-run supply curve is
A. its marginal cost curve equal to or above the point of intersection with its average variable cost curve. B. its total cost curve between the shutdown point and the break-even point. C. its average variable cost curve below the point of intersection with its total cost curve. D. its total cost curve.