All of the following would cause the aggregate demand curve to shift EXCEPT
A) a rise in real interest rates.
B) an increase in taxes.
C) improvements in economic conditions in other countries.
D) a decrease in the price level.
D
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A severe freeze has damaged the Florida orange crop. The effect on the market for oranges will be a left shift of
A. demand, as consumers try to economize because of the shortage. B. both the supply and demand curves. C. the supply curve. D. the supply curve and a right shift in the demand curve, and the outcome will be a higher price
In order for society to have a rising standard of living, output must grow: a. at a slower rate than the labor force. b. at the same rate as the population. c. faster than the population
d. at a slower rate than the population. e. at a slower rate than infrastructure.
A bank's balance sheet can show a negative net worth and yet its income statement can show a profit for the year
a. True b. False
What is the difference between explicit and implicit costs?
What will be an ideal response?