Which of the following will result in secular deflation?
A. continuous rightward shifts of the long-run aggregate supply curve
B. a one-time rightward shift of the long-run aggregate supply curve
C. continuous rightward shifts of the aggregate demand curve
D. a one-time rightward shift of the aggregate demand curve
Answer: A
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Aggregation means the:
A. worsening of an economic situation. B. adding up of individual economic variables to obtain economy wide totals. C. participation in national economic policy discussions D. enhancement of the power and wealth of a nation.
Real business cycle theory emphasizes that shocks to technology can play a big part in causing economic fluctuations
Indicate whether the statement is true or false
If the price elasticity of demand for Cheer detergent is 3.0, then a
a. 12 percent drop in price leads to a 36 percent rise in the quantity demanded b. 12 percent drop in price leads to a 4 percent rise in the quantity demanded c. $1,000 drop in price leads to a 3,000-unit rise in the quantity demanded d. $1,000 drop in price leads to a 333-unit rise in the quantity demanded e. 12 percent rise in price leads to a 36 percent rise in the quantity demanded
Refer to the graph shown. If the government imposed a price ceiling of $4, producers' revenue would:
A. decline. B. remain unchanged. C. rise. D. It cannot be determined.