Which of the following would cause a rightward shift in the aggregate supply curve?
A. larger-than-expected wage increases
B. lower oil prices
C. increased investment spending
D. greater government regulation
Answer: B
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Consumption spending refers to ________ spending on goods and services
A) government B) business C) foreign D) household
The text refers to OPEC as a classic example of a cartel. OPEC is a group of countries that collude to control prices and output in the _______ industry(ies)
a. agriculture b. engineering and computer c. airline d. oil e. machinery
When a driver enters a crowded highway he increases the travel times of all other drivers on the highway. This is an example of a negative externality
a. True b. False Indicate whether the statement is true or false
A market with one buyer and one seller is a
A. Bilateral monopoly. B. Multiopoly. C. Bilateral monopsony. D. Multilayer monopoly.