Which of the following factors will not shift the long-run aggregate supply curve?
A. An improvement in production technology
B. An increase in the price level
C. An increase in capital accumulation
D. An increase in available resources
Answer: B
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The opportunity cost of producing one more unit of a good is calculated by dividing the
A) total quantity of the other good by the total quantity of the good whose opportunity cost we're calculating. B) decrease in the quantity of the other good by the increase in the quantity of the good whose opportunity cost we're calculating. C) price of the good whose opportunity cost we are calculating by the number of units of the other good that are forgone. D) total quantity of that good by the total quantity of other good. E) increase in the quantity of that good by the decrease in the quantity of other good.
The Citizens First Bank sells $100,000 of government securities to the Fed. This sale immediately
A) decreases the quantity of money. B) decreases the bank's assets. C) increases the bank's required reserves. D) decreases the bank's checkable deposits. E) increases the bank's reserves.
Transfer payments are subtracted from national income to get to personal income
Indicate whether the statement is true or false
Which of the following would be part of the Thai demand for U.S. dollars?
a. A Thai street seller trying to sell a shirt to an American tourist b. A Thai bank selling dollars it possesses in exchange for euros c. An American exchanging dollars for Thai bahts that she will spend on her next vacation to Bangkok d. A Thai export company selling its products in the American markets e. A Thai importer who wants to buy a Caterpillar tractor