When OPEC caused the price of oil to rise in the early 1970s, the:
A. aggregate supply curve shifted to the right.
B. aggregate supply curve shifted to the left.
C. aggregate demand curve shifted to the right.
D. aggregate demand curve shifted to the left.
Answer: B
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A bond that is currently selling at $1,000 offers to pay $50 annually. What is the percentage rate of return on the bond?
A. 10% B. 50% C. 5% D. 20%
The dollar has depreciated if it buys less of a foreign currency.
a. True
b. False
Indicate whether the statement is true or false
The level of long-run aggregate supply is affected by all of the following except
A) changes in the price level. B) changes in the technology. C) changes in the capital stock. D) changes in the number of workers.
In computing real or constant dollar GDP, the purpose is to attempt to
A) Adjust for spending patterns B) Adjust for the value of a dollar C) Adjust for more investment D) Adjust for changes in the housing prices