Fiscal policy cannot be used to move the economy along the short-run Phillips curve
a. True
b. False
Indicate whether the statement is true or false
False
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Households receive a total income of $5 million. Of this, $3.5 million are wages received for labor services, $1 million are rental payments, and $250,000 are interest payments received
What are the costs of production and profits equal to respectively? A) $4.75 million; 0 B) $5 million; $250,000 C) $4.75 million; $250,000 D) $5 million; $500,000
An increase in the quantity of money ________ aggregate demand and ________
A) increases; shifts the aggregate demand curve rightward B) increases; shifts the aggregate demand curve leftward C) decreases; shifts the aggregate demand curve leftward D) increases; rotates the aggregate demand curve so it is steeper E) decreases; shifts the aggregate demand curve rightward
Which of the following will lead to an appreciation of the U.S. dollar against the British pound?
A) an increase in British demand for U.S. imports B) an increase in U.S. demand for British imports C) an increase in British interest rates D) a decrease in British demand for U.S. assets
The Red Jacket Mountain View Inn in New Hampshire charges $159 per room in the winter ski season and $114 during the summer months. The number of rooms and operating costs are constant year round. These prices indicate
a. rightward shifts in the demand curve in the summer. b. a rightward shift in demand in the winter. c. leftward shifts in the supply curve in the summer. d. a leftward shift in demand in the winter.