John Maynard Keynes was the son of
A) one of the first female students to attend Cambridge University.
B) Russian ballerina Lydia Lopokova.
C) the mayor of London.
D) an eminent economist.
E) a and d
E
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We all behave as speculators in our economic transactions
A) because everyone likes to gamble. B) because we all act in the hope of benefits from a correct anticipation of future events. C) unless we never buy on credit. D) unless we use the services of middlemen.
The long-run aggregate supply curve will shift to the right if
A) net exports decrease. B) the economy experiences technological change. C) there is a decrease in population. D) the economy experiences high levels of inflation.
Railroads have received significant attention from regulators because
A. railroads enjoy significant economies of scale. B. conditions in the railroad industry are conducive to destructive competition. C. regulators would like to ensure universal service to all potential railroad customers. D. railroads are vulnerable to predatory pricing.
If the U.S. dollar becomes weaker in international markets, the net effects will include
A) a decrease in short-run aggregate supply (SRAS) and an increase in aggregate demand. B) an increase in short-run aggregate supply (SRAS) and a decrease in aggregate demand. C) a decrease in both short run aggregate supply (SRAS) and aggregate demand. D) an increase in both short run aggregate supply (SRAS) and aggregate demand.