A technological advance __ the long-run aggregate supply curve and ___ the short-run aggregate supply curve.
What will be an ideal response?
shifts / shifts
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Compared to the profit-maximizing equilibrium of a natural monopoly, a price cap regulation ________ the firm's price and ________ the firm's output
A) raises; decreases B) lowers; increases C) raises; increases D) lowers; decreases
Part of the spending on the Doyle Drive project in northern California came from the American Reinvestment and Recovery Act, which is an example of ________ aimed at increasing real GDP and employment
A) an automatic stabilizer B) a transfer payment C) discretionary fiscal policy D) contractionary fiscal policy
In Figure 3-7 above, when autonomous planned spending is $250, the equilibrium income level is
A) $1000. B) $1250. C) $1500. D) $2500.
A depreciation in the value of the U.S. dollar would:
a. encourage foreigners to travel on American owned airlines. b. make U.S. goods more expensive to foreign consumers. c. decrease the number of dollars it takes to buy a Swiss franc. d. make it more expensive for U.S. citizens to travel abroad.