A new discovery of large volumes of previously unknown oil deposits in Texas would

A. shift only the long-run aggregate supply curve to the right.
B. shift the short-run and long-run aggregate supply curves to the right.
C. shift only the short-run aggregate supply curve to the right.
D. not affect either the short-run or long-run aggregate supply curves.


Answer: B

Economics

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A speculative attack is:

A. a massive selling of domestic currency assets by domestic and foreign financial investors. B. a presumptive decrease in the officially fixed value of a currency. C. a presumptive increase in the officially fixed value of a currency. D. the imposition of tariffs and quotas to prevent the inflow of foreign goods.

Economics

A monopsonistic employer will pay a wage rate

A) less than the labor's MRP. B) greater than the labor's MRP. C) equal to the labor's MRP. D) equal to MFC.

Economics

“Intel Inside” accompanies virtually all IBM-compatible computers. Intel manufactures the i3, i5 and i7 chips that are a key component of personal computers. Does Intel have a monopoly?

What will be an ideal response?

Economics

Figure 4-23


Refer to . In which market will the majority of the tax burden fall on the buyer?
a.
market (a)
b.
market (b)
c.
market (c)
d.
All of the above are correct.

Economics