When comparing the slopes of the aggregate-demand and aggregate-supply curves to the slopes of demand and supply curves for specific goods and services, the explanations are
a) the same for all the curves.
b) quite different for the aggregate curves from the specific market curves.
c) the same for the demand curves but not the supply curves.
d) the same for the supply curves but not the demand curves.
Answer: b) quite different for the aggregate curves from the specific market curves.
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If France has a trade deficit, then
A) imports into France exceed exports from France. B) exports from France exceed imports into France. C) imports into the United States from France exceed exports from the United States into France. D) imports into France from the United States exceed exports from France into the United States.
The first farm organization of importance was
a. the Grangers. b. the Greenback Party. c. the Southern Alliance. d. The Populists.
Is saying that “there is growing income inequality” just another way of saying that “the rich are getting richer, and the poor are getting poorer”? Explain your answer
What will be an ideal response?
To close an expansionary gap, the Fed ________ interest rates which ________ aggregate spending and ________ short-run equilibrium output.
A. raises; decreases; increases B. raises; decreases; decreases C. raises; increases; increases D. reduces; increases; decreases