Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply.
B. a reduction in aggregate demand.
C. an increase in long-run aggregate supply.
D. an increase in aggregate demand.
Answer: B
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The proven-reserves figure used in most years-to-depletion calculations encompasses oil reserves that are ________ and ________ to extract
A) known; economical B) both known and unknown; economical C) known; both economical and uneconomical D) both known and unknown; both economical and uneconomical
Which of the Ten Principles of Economics do governments run into when they redistribute income to achieve greater equality?
a. Trade can make everyone better off. b. The cost of something is what you give up to get it. c. People face trade-offs. d. Markets are usually a good way to organize economic activity.
_____________________________: A sale price adjustment must be made if the legal estate, or bundle of rights, of a comparable property differ from those of the subject property.
Fill in the blank(s) with the appropriate word(s).
Which of the following was the result of the Federal Reserve’s purchase of mortgage-backed securities in 2009?
A. MBS interest rates declined, home mortgage rates declined, and the Fed turned a profit on these operations. B. MBS interest rates declined, home mortgage rates declined, but the Fed had a loss on these operations. C. MBS interest rates increased, home mortgage rates declined, and the Fed turned a profit on these operations. D. MBS interest rates increased, home mortgage rates increased, but the Fed had a loss on these operations.