If the GDP deflator in 2009 was 160 and the GDP deflator in 2010 was 180, then the inflation rate in 2010 was 12.5%
a. True
b. False
Indicate whether the statement is true or false
True
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A fall in the price level will: a. cause an upward movement upward along the aggregate demand curve. b. cause a downward movement along the aggregate demand curve
c. cause a leftward shift of the aggregate demand curve. d. cause a rightward shift of the aggregate demand curve. e. have no impact on the aggregate demand curve.
When the price ceiling on eggs is lifted, there is a shortage of eggs in the market
a. True b. False Indicate whether the statement is true or false
According to supply-side theory, which of the following will shift the aggregate supply curve to the right?
A. A reduction in discrimination. B. A higher minimum wage. C. A reduction in spending on education. D. Higher marginal tax rates.
If the price of an input decreases, each individual firm's ________ shifts downward and the ________ shifts to the right.
A. demand curve; industry supply curve B. marginal cost curve; industry supply curve C. marginal revenue curve; marginal cost curve D. supply curve; marginal cost curve