Recessions in South Korea and Indonesia will cause
a. an upward movement along the United States's AD curve
b. a downward movement along the United States's AD curve
c. the United States's AS curve to shift to the right
d. the United States's AD curve to shift to the left
e. the United States's AD curve to shift to the right
E
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When a temporary adverse supply shock hits a large open economy, it causes the current account to ________ and investment to ________
A) fall; fall B) rise; remain unchanged C) fall; remain unchanged D) rise; fall
Which of the following is primarily responsible for controlling the money supply in the United States?
a. the U.S. Congress b. the Board of Governors of the Federal Reserve System c. the U.S. Treasury d. the Council of Economic Advisors
Keynesian economists generally agree that unemployment is more costly than inflation.
Answer the following statement true (T) or false (F)
If you have been consuming large quantities of ice cream on a hot summer afternoon and you decide to refrain from any additional consumption, it can be concluded that
A. total utility has reached a maximum and the marginal utility of an additional drink would be zero. B. total utility has reached a minimum and the marginal utility of an additional drink would be large. C. total utility has reached a minimum and the marginal utility of an additional drink would be negative. D. total utility has reached a maximum and the marginal utility of an additional drink would be small.