When the exchange rises, then the
A) AD curve shifts rightward.
B) AD curve shifts leftward.
C) LAS curve shifts rightward.
D) LAS curve shifts leftward.
B
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Consider the market for ride-on lawn mowers and the recent increases in the price of oil. The recent increase in the price of oil makes it more expensive to manufacture ride-on lawn mowers. An increase in the price of oil also makes it more expensive to run a ride-on mower. If the price of oil increases, the demand for ride-on mowers will ________ and the supply will ________.
A. decrease; increase B. increase; decrease C. decrease; decrease D. increase; increase
The consumer price index (CPI) is computed as the ratio of nominal GDP to real GDP
a. True b. False Indicate whether the statement is true or false
If the price level rises, what will happen to aggregate supply?
a. It will shift outward. b. It will shift inward. c. Nothing. d. It will get steeper. e. It will get flatter.
Which of the following would be counted in the calculation of GDP?
a. the sale of a rare, old coin to a coin collector b. the damage to a house caused by a hurricane c. the brokerage commission from the sale of 100 shares of Microsoft stock d. the sale of cocaine in the black market