A scatter diagram of the position of the U.S. economy from 1972 through 2007 with the price level on the vertical axis and real GDP on the horizontal axis would show a movement generally toward the
a. northwest.
b. northeast.
c. southwest.
d. southeast.
b
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The marginal productivity theory is irrelevant to organizing production in a socialist society.
Answer the following statement true (T) or false (F)
Tax increases
a. and increases in government expenditures shift aggregate demand right. b. and increases in government expenditures shift aggregate demand left. c. shift aggregate demand right while increases in government expenditures shift aggregate demand left. d. shift aggregate demand left while increases in government expenditures shift aggregate demand right.
An asset for a commercial bank is its loans
a. true b. false
Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.
Figure 28.1Refer to Figure 28.1. According to classical economists, if the wage rate is $15 the wage rate will ________ to eliminate the ________.
A. increase; surplus B. decline; surplus C. increase; shortage D. decline; shortage