Which of the following events will increase short-run aggregate supply?
A) an advance in technology
B) an increase in resource prices
C) an increase in the natural unemployment rate
D) an increase in foreign income
A
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Suppose a bank has $200,000 in deposits and a reserve ratio of 15 percent. Its required reserves are
A) $350. B) $1,500. C) $3,000. D) $30,000.
Assume a price floor is set above the equilibrium price. The result is a shortage
a. True b. False Indicate whether the statement is true or false
The term externalities refers to
A. The impact on markets of imported goods. B. Black-market economic activity. C. The inequitable distribution of income. D. The costs or benefits of a market activity borne by a third party.
If the economy is in a deep recession, a modest increase in aggregate demand is likely to cause _____ in prices and _______ in output level.
a) an increase; an increase b) an increase; little or no change c) a decrease; an increase d) little or no change; an increase e) little or no change; little or no increase