When the supply (curve) of a product increases,
A) suppliers change their plans.
B) demanders change their plans.
C) the price changes.
D) all of the above occur.
E) none of the above occur.
D
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The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Unplanned inventory changes are zero when real GDP equals
A) $300 billion. B) $500 billion. C) $900 billion. D) $700 billion. E) $800 billion.
Why might a country raise interest rates in the face of an exchange rate crisis?
What will be an ideal response?
As a result of recent empirical research, there has been a convergence of Keynesian and monetarist opinion to the view that
A) money is all that matters. B) money does matter. C) money does not matter. D) fiscal policy is all that matters.
When taxpayers pay more in taxes because of inflation even when the nominal tax structure remains the same, this is called _____
a. indexation b. bracket creep c. tax expenditure d. nominal rigidity