Refer to the graph below. Economic growth driven by productivity and technology would be illustrated as a shift of:
A. AD1 to AD2
B. P1 to P2
C. AS2 to AS1
D. ASLR1 to ASLR2
D. ASLR1 to ASLR2
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Which statement is true?
A. All regions of the United States were primarily agricultural in 1865. B. Only the South was primarily agricultural in 1865. C. Only the North and West were primarily agricultural in 1865. D. None of the statements are true.
Everything else held constant, if aggregate output is to the left of the IS curve, then there is an excess ________ of goods which will cause aggregate output to ________
A) supply; fall B) supply; rise C) demand; fall D) demand; rise
The type of market in which there is direct interaction between buyers and sellers is a(n)
A) brokered market. B) auction market. C) dealer market. D) primary market.
The price of a new textbook increased by 25 percent and the price of a used textbook increased by 30 percent. What happened to the relative price of the new textbook?
A) It increased by 5 percent. B) It increased, but we can't tell by how much without more information. C) It decreased by 5 percent. D) It decreased, but we can't tell by how much without more information.