Refer to Figure 9.2. A movement from point c to point a could be caused by a(n)
A) decrease in government spending.
B) increase in the price of oil.
C) decrease in taxes.
D) decrease in short-run aggregate supply.
A
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If technological breakthroughs in the internet cause large numbers of firms to consider investment projects they hadn't previously thought of, then
A) a shift in the supply of loanable funds will cause interest rates to rise. B) a shift in the supply of loanable funds will cause interest rates to fall. C) a shift in the demand for loanable funds will cause interest rates to rise. D) a shift in the demand for loanable funds will cause interest rates to fall. E) there will be an excess supply of loanable funds.
Over the past 80 years, the overall price level in the U.S. has experienced a(n)
a. 4-fold increase. b. 10-fold increase. c. 13-fold increase. d. 17-fold increase.
The rule of 70 estimates how long it will take a country to:
A. achieve zero inflation. B. reach its maximum production capacity. C. double its real GDP per capita. D. double its output.
When drawing a production possibilities frontier for two goods, all of the following are usually assumed except one. Which is the exception?
a. ?Technology is fixed. b. ?The production possibilities frontier is drawn for a particular time period. c. ?Resources can be shifted from the production of one good to the other. d. ?The quantity of resources is rapidly growing. e. ?Resources are fully and efficiently employed.