A fall in the prices of inputs will shift the aggregate:
A. Demand curve leftward
B. Demand curve rightward
C. Supply curve rightward
D. Supply curve leftward
C. Supply curve rightward
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The World Trade Organization (WTO) is an international organization dedicated to erecting trade barriers between nations
Indicate whether the statement is true or false
The observed unemployment rate is less than the natural rate of unemployment if:
a. the inflation rate is lower than expected. b. the reservation wage is adjusted to account for higher inflation. c. real wage increases with increase in prices. d. reservation wages go up with the rate of inflation. e. the inflation rate is higher than expected.
For a given inflation rate, if increasing threats to domestic security cause the government to increase military spending, then the ________ shifts ________.
A. aggregate demand curve; left B. aggregate demand curve; right C. short-run aggregate supply line; downward D. short-run aggregate supply line; upward
After the Civil War, wheat production became regionally specialized and output production in the Midwest increased consequently
Indicate whether the statement is true or false