An increase in the quantity of capital shifts the ... curve ... and the ... curve ...
What will be an ideal response?
long-run aggregate supply; rightward; short-run aggregate supply; rightward
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A budget deficit occurs if government spending:
A. Equals tax revenues. B. Is greater than tax revenues. C. Is less than tax revenues. D. Causes tax revenues to increase.
Phillips developed a curve that shows the trade-off between the
A. Natural rate of unemployment and exchange rates. B. Unemployment rate and inflation rates. C. Full employment rate and interest rates. D. Full employment rate and the natural rate of unemployment.
Which of the following contributes to structural unemployment?
A. People over 65 who don't really want to work. B. A general short-run downturn in the economy. C. People quitting a job just long enough to look for and find another one. D. People losing a job when their skills become obsolete due to technological innovations.
The production possibilities curve for two products is bowed out because
A) as the production of a good increases, opportunity cost increases. B) as the production of a good increases, opportunity cost is unchanged. C) the qualities of the resources are not identical. D) there are unemployed resources.