Other factors held constant, a decrease in resource prices will shift the aggregate:
A. demand curve leftward.
B. demand curve rightward.
C. supply curve leftward.
D. supply curve rightward.
Answer: D
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If the central bank can act as a lender of last resort during a banking panic, banks can
A) call in their loans to their customers and eventually restore the public's faith in the banking system. B) satisfy customer withdrawal needs and eventually restore the public's faith in the banking system. C) borrow more and more money from the central bank, and this will lower its reserves and decrease the public's faith in the banking system. D) encourage the public to borrow directly from the central bank, and this will worsen the banking panic.
Which of the following is an input in the circular flow diagram for an economy with two sectors?
a. A resource labor from the household sector b. A good supplied from the firm sector c. The revenue earned by the firm sector d. The income earned by the household sector
When consumers in a market become fully informed of negative information about the product, we can expect the
A. price of the product to decrease. B. price of the product to increase. C. price of the product to remain constant but the equilibrium quantity to decrease. D. equilibrium quantity of the product to increase.
Price leadership
A. Results in inflexible prices. B. Results in predatory pricing. C. Accounts for kinked oligopoly behavior. D. Helps achieve monopoly profit for the market.