A rightward shift in aggregate demand will cause an increase in output and price level if aggregate supply is
A. Downward-sloping to the right.
B. Upward-sloping to the right.
C. Horizontal.
D. Vertical.
Answer: B
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Among state member and national banks, __________ have federal deposit insurance through the FDIC
A) all B) virtually all C) a minority D) none of them
In the life-cycle hypothesis, if a person enters working life with an inherited stock of assets, this
A) raises his consumption during the working years. B) raises his consumption during the retirement years. C) raises his consumption in every year. D) lowers his consumption during the retirement years. E) lowers his consumption during the working years.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
If average fixed costs equal $60 and average total costs equal $120 when output is 100, the total variable cost must be:
A. $40. B. $60. C. $6,000. D. $8,000.