The passage of new legislation that imposes much less government regulation of business will most likely:
a. Increase aggregate demand
b. Decrease aggregate supply
c. Decrease aggregate demand
d. Increase aggregate supply
Answer: d. Increase aggregate supply
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Which of the following groupings correctly represents the Four Tigers (or Four Dragons)?
A) Thailand, China, Japan, and Malaysia B) Hong Kong, Singapore, South Korea, and Taiwan C) Japan, Hong Kong, Thailand, and Malaysia D) South Korea, China, the Philippines, and Japan E) Singapore, Malaysia, Indonesia, and India
The marginal rate of technical substitution shows
A) how many machines can be replaced by computers, keeping output constant. B) how many computers are needed to replace workers so that output can increase. C) the rate at which technology advances change marginal productivity. D) how many workers can do the job of one computer, keeping output constant.
A World Bank study suggest a strong link in Africa between governments that __________ special-interest groups and __________ rates of economic growth
a. cater to, high b. cater to, moderate c. cater to, low d. ignore, low e. ignore, moderate
In which of the following economic theories is it possible for an increase in the money supply to lead to a decrease in Real GDP in the short run?
A) Keynesian theory B) Monetarist theory C) New classical theory D) a and b E) a and c