By looking at the graphs showing the impact of a positive supply shock on aggregate demand and aggregate supply and on the Phillips curve, we can see that a positive supply shock would ______.
a. increase price levels and RGDP, but decrease inflation rates and unemployment rates
b. increase price levels, RGDP, inflation rates, and unemployment rates
c. decrease price levels, RGDP, inflation rates, and unemployment rates
d. decrease price levels, inflation rates, and unemployment rates, but increase RGDP
d. decrease price levels, inflation rates, and unemployment rates, but increase RGDP
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Lending abroad represents:
A. positive net savings. B. a capital outflow. C. a capital inflow. D. none of the above.
Which is the most likely effect upon the market for cotton of a significant improvement in the quality of synthetic textiles?
A) A decrease in demand and hence a decrease in both the price of cotton and the quantity exchanged. B) A decrease in demand and hence a decrease in the price of cotton and an increase in the quantity exchanged. C) A decrease in demand and hence an increase in the price of cotton and a decrease in the quantity exchanged. D) A decrease in both demand and supply and hence a decline in the quantity exchanged but no predictable change in the price of cotton.
In 1950 there were 16 individuals contributing to Social Security for every one person collecting benefits
a. True b. False
Scarcity:
a. ensures that people become satisfied with less than what they want. b. exists only during a recession. c. exists only in some countries. d. affects only poor people. e. requires people to make choices to satisfy their wants.