In the above figure, B is the current long-run aggregate supply curve and E is the current short-run aggregate supply curve. Technological advances mean the long-run aggregate supply curve and short-run aggregate supply curve
A) remain B and E.
B) shift to A and D, respectively.
C) shift to C and F, respectively.
D) shift to C and remain E, respectively.
C
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Use the following table to answer the question below.Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500At a price of $15 per unit, which of the following would exist?
A. A surplus of 600 units. B. A shortage of 1,000 units. C. A surplus of 1,000 units. D. A shortage of 1,600 units.
In developed countries, tariffs on raw materials tend to be
A) highest of all. B) higher than on manufactured goods. C) equal to tariffs on manufactured goods. D) lower than on manufactured goods.
The Federal Reserve has just purchased bonds in the market, carrying out open market operations. In the short run in the Keynesian model, this would cause the foreign real interest rate to ________ and foreign output to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
One opportunity cost associated with going to college is
A) purchasing text books. B) paying tuition. C) giving up employment possibilities while in college. D) paying for room, board, and other living expenses.