Refer to Figure 9.2. A movement from point b to point c could be caused by a simultaneous ________ and ________
A) decrease in taxes; decrease in the price of oil
B) increase in the money supply; increase in the price of oil
C) increase in taxes; decrease in government spending
D) increase in the price of oil; massive crop failure
B
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People who enjoy high standards of living usually have all of the following EXCEPT:
A. freedom from scarcity. B. longer life expectancies. C. better general health. D. higher literacy rates.
Technology can enable producers to economize on:
a. labor b. capital c. land d. any of the above.
Small differences in economic growth rates translate into significant differences in living standards
a. True b. False Indicate whether the statement is true or false
Net exports is calculated by subtracting what from exports?
a. aggregate expenditure b. government purchases c. imports d. inventories