Which of the following would cause E1 to move to E2?
a. P1 moving to P2 and D2 moving to D1
b. S1 moving to S2 and Q2 moving to Q1
c. P1 moving to P2 and Q1 moving to Q2
d. S1 moving to S2 and D2 moving to D1
c. P1 moving to P2 and Q1 moving to Q2
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]Which of the following describes what would happen after a positive supply shock such as a decrease in world oil prices?
a. An upward shift of the aggregate supply curve as unit costs increase, followed by a gradual decrease in the wage as employment decreases, leading to a downward shift of the aggregate supply curve. b. A downward shift of the aggregate supply curve as unit costs decrease, followed by a gradual increase in the wage as employment increases, leading to an upward shift of the aggregate supply curve. c. An upward shift of the aggregate supply curve as unit costs increase, followed by a gradual decrease in the wage as employment decreases, leading to an upward shift of the aggregate supply curve. d. A downward shift of the aggregate supply curve as unit costs decrease, followed by a gradual decrease in the wage as employment decreases, leading to a downward shift of the aggregate supply curve. e. An upward shift of the aggregate demand curve.
Which of the following correctly ranks the three countries, from highest to lowest, for percentage of college-age children in school?
a. United Kingdom, Mali, Mexico. b. Mexico, Mali, United Kingdom. c. United Kingdom, Mexico, Mali. d. Mali, Mexico, United Kingdom.
Depreciation of the dollar refers to
A. An increase in the price of foreign currency in terms of dollars. B. A loss of foreign exchange reserves. C. A fall in the dollar price of a foreign currency. D. Intervention in international money markets.
Which theorem tells us that no voting system is perfect?
A. Bowman's problematic theorem B. Arrow's impossibility theorem C. Condorcet paradox D. Median-voter theorem