Perfect competition is characterized by numerous products with well-known brand names.
Answer the following statement true (T) or false (F)
False
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The short-run aggregate supply curve shows that inflation will change as a result of changes in ________
A) output B) potential output C) expected inflation D) price shocks E) all of the above
If the federal government borrows from the private sector to pay for increased budget deficits and interest rates increase, this will cause
A) a decrease in planned investment and planned consumption. B) an increase in planned investment and planned consumption. C) a decrease in planned investment and an increase in planned consumption. D) an increase in planned investment and a decrease in planned consumption.
A significant decline in real GDP is called a
a. recession. b. depression. c. peak. d. trough.
Which of the following could not be expected to shift the aggregate demand curve?
A. net exports fall B. consumption spending decreases C. an increase in government spending D. a change in real GDP