A reduction in U.S net exports would shift U.S. aggregate demand
a. rightward. In an attempt to stabilize the economy, the government could increase expenditures.
b. rightward. In an attempt to stabilize the economy, the government could decrease expenditures.
c. leftward. In an attempt to stabilize the economy, the government could increase expenditures.
d. leftward. In an attempt to stabilize the economy, the government could decrease expenditures.
c
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The Laffer curve illustrates the relationship between
a. supply and demand. b. tax rates and tax revenues. c. opportunity cost and inflation. d. tax liability and taxable income.
By 2016, the unemployment rate in the US had fallen from a peak of 10% in 2009 to:
A. under 5%. B. under 3%. C. 7.8%. D. 6.2%.
Exhibit 4-10 Supply and demand data for apricots Bushels demandedper month Price perbushel Bushels suppliedper month 50 $5 80 55 4 75 60 3 70 65 2 65 70 1 55 Which of the following would occur if the government sets a price floor of $4 in the market shown in Exhibit 4-10?
A. There would be a shortage of apricots. B. Buyers would not purchase all of the apricots that are grown. C. Buyers would purchase more apricots than are currently being supplied. D. Farmers would reduce the number of acres allocated to the growing of apricots.
If the world price of a product rises relative to the domestic price in a trading nation, then for that product
A. exports will increase or imports will decrease. B. exports and imports will decrease. C. imports will increase or exports will decrease. D. exports and imports will increase.