Farmers can raise either goats or ostriches on their land. Which of the following would cause the supply of goats to decrease?
A) an increase in the price of ostrich feed B) an increase in the price of ostriches
C) a decrease in the price of goats D) an increase in the demand for goats
B
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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
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
A budget constraint line represents combinations of two goods that provide an individual the same total utility.
Answer the following statement true (T) or false (F)
Which of the following would not be included in the expenditure category called investment expenditures?
A) spending on new houses B) a purchase of shares of preferred stock C) a purchase of a copy machine by FedEx Office D) the cars held in inventory on a local Ford dealer's lot