The purpose of commodity buffer stocks is
(a) to moderate price fluctuations.
(b) to raise commodity prices.
(c) to encourage commodity substitution.
(d) to guarantee national security.
A
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In the above figure, start with the economy in equilibrium at point A. Then an unanticipated reduction in aggregate demand triggers a shift from AD1 to AD2. In the short run, this would cause
A) the price level to move from P1 to P2, but real Gross Domestic Product (GDP) would stay at Y1. B) the price level to fall from P1 to P2, real Gross Domestic Product (GDP) to fall from Y1 to Y2, and the rate of unemployment to increase. C) the price level to fall by some amount less than P1 but greater than P2, and the rate of unemployment would decrease. D) no change in either the price level or real Gross Domestic Product (GDP), but a decrease in unemployment.
Cost-push inflation is caused by: a. an increase in aggregate demand
b. a decrease in aggregate demand. c. an increase in short-run aggregate supply. d. a decrease in short-run aggregate supply.
The Supreme Court's decision in the Standard Oil of New Jersey case was
A) to force the company to send refund checks to customers. B) to force the company to pay $10 billion in fines. C) to increase the fine imposed by a lower court. D) to break up the company.
The World Bank makes loans primarily to
A. developing nations. B. nations without national debt. C. nations without free markets, such as North Korea. D. highly developed nations.