A change in which of the following variables will cause a shift of the IS curve in the current period?
A) the current interest rate
B) current output
C) current taxes
D) all of the above
E) none of the above
D
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If labor market institutions change so that it becomes easier to find a job, and unemployed people are unemployed for smaller durations of time, what would happen to the natural rate of unemployment?
A. It would increase. B. It would remain the same, since the number of workers has not changed. C. It would decrease. D. There is not enough information to determine what would happen.
You go to work today, but will get your paycheck at the end of the month. This is an example of money serving as a
A) store of value. B) unit of accounting. C) standard of deferred payment. D) medium of exchange.
If price discrimination occurs in a market
A) consumers whose demand for the product sold is more elastic pay higher prices than consumers whose demand is less elastic. B) the firm earns arbitrage profits. C) the marginal cost of production is constant. D) the law of one price does not hold.
The net national savings rate for the United States, compared with that of other industrial nations is
A. much higher. B. a little higher. C. lower.