With respect to the aggregate demand curve, a tax cut will:
A. Move the economy down along the curve.
B. Move the economy up along the curve.
C. Shift the curve leftward.
D. Shift the curve rightward.
D. Shift the curve rightward.
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Regarding the law of supply, which of the following statements is correct?
A) As the price of a good or service rises, the quantity supplied will increase. B) As the price of a good or service rises, the quantity supplied will decrease. C) The ceteris paribus assumption does not apply. D) As demand falls, supply rises.
GDP equals $5 trillion. If consumption equals $3.5 trillion, investment equals $1 trillion, and government spending equals $1.5 trillion, then:
a. exports exceed imports by $1 trillion. b. imports exceed exports by $1 trillion. c. net exports equal zero d. exports exceed imports by $1.5 trillion.
Briefly explain why having a completely clean environment has costs and may not be the best option to pursue.
What will be an ideal response?
The tendency of people to misjudge, at the present time, what they will want to do or have at some future time is called:
A. Time inconsistency B. Mental accounting C. Anchoring D. Framing