Which of the following shifts short-run aggregate supply left?
a. an increase in price expectations
b. an increase in the actual price level
c. a decrease in the money supply
d. a decrease in the price of oil
a
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In a market economy, goods are allocated to
a. all potential uses. b. all citizens on an equal basis. c. citizens with political power. d. citizens with both the desire and the willingness to pay for the goods.
At the socially optimal equilibrium, _____
a. social cost exceeds private cost b. a market is allocatively efficient c. the marginal private cost of a given level of output is equal to the marginal social benefit d. the marginal private cost of a given level of output is greater than the marginal social benefit
Long term bonds have ________ interest rate risk
Fill in the blank(s) with the appropriate word(s).
The extra cost that results from carrying out one additional unit of an activity is the ________ of the activity.
A. marginal cost B. reservation cost C. opportunity cost D. marginal benefit