Cost-push inflation occurs because of a:
a. Leftward shift in the aggregate demand curve
b. Rightward shift in the aggregate demand curve
c. Leftward shift in the aggregate supply curve
d. Rightward shift in the aggregate supply curve
c. Leftward shift in the aggregate supply curve
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The real output of the economy under conditions of full employment
A) is long-run aggregate demand. B) is long-run aggregate supply. C) happens only when there is no inflation. D) is determined by the real-balance effect.
A rent ceiling results in a shortage of apartments. As a result, there is
A) only a loss of consumer surplus for tenants. B) only a loss of producer surplus for landlords. C) a loss of both consumer and producer surplus. D) a gain of both consumer and producer surplus.
The first paper currency issued by the U.S. government was known as the
a. Federal Reserve note b. treasury bill c. greenback d. pound e. gold certificate
A common measure of income distribution is the:
a. Bergson curve b. Kornai Curve c. Feldstein curve d. The Hayek Curve e. the Gini coefficient