Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS)?
A. an increase in oil prices
B. an advance in technology
C. an increase in the CPI
D. an increase in the long-run aggregate supply curve (LRAS)
Answer: A
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If Ford sells 200 Explorers for a total of $400,000 to Germany, while the United States imports 100 BMWs for a total of $500,000 from Germany
A) U.S. GDP increases because it sells more Explorers. B) U.S. GDP decreases because net exports are negative. C) Germany's GDP decreases. D) U.S. net exports is positive.
When society receives more benefits from a good than the individuals who consume the good,
a. the marginal social benefit for the good is less than the marginal social cost b. too much of the good would be produced by a private market c. property rights are assignable and well defined d. the good produces a positive externality e. the good is exhaustible with fixed-production technology
Poor economies may have difficulty growing because
a. their production possibilities curves slope upward instead of downward b. they cannot cut back on their production of consumption goods to increase their production of capital goods c. they have a solid consumption base already in place d. their resource bases are fully developed e. the law of increasing costs makes it hard to produce more goods
The total money supply in the economy will not increase if you deposit $200 given to you on your birthday in your checking account, and the bank holds $100 of that money as vault cash, and loans out the other $100
Indicate whether the statement is true or false