A) hold more money and the quantity of aggregate goods and services demanded increases.
B) hold more money and the quantity of aggregate goods and services demanded decreases.
C) hold less money and the quantity of aggregate goods and services demanded increases.
D) hold less money and the quantity of aggregate goods and services demanded decreases.
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A) repeal of an investment tax credit, an increase in the money supply
B) repeal of an investment tax credit, a decrease in the money supply
C) passing of an investment tax credit, an increase in the money supply
D) passing of an investment tax credit, a decrease in the money supply
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A) the inflation rate.
B) real GDP.
C) interest rates.
D) value of the U.S. dollar in the foreign exchange market.
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A) the price level.
B) the amount of capital used by firms.
C) available stock of human capital.
D) available technology
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A) rises, and interest rates rise.
B) rises, and interest rates fall.
C) falls, and interest rates rise.
D) falls, and interest rates fall.
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A) decrease consumption, which shifts aggregate supply left.
B) decrease consumption, which shifts aggregate demand left.
C) increase consumption, which shifts aggregate supply right.
D) increase consumption, which shifts aggregate demand right.
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A) a decrease in taxes and at a given price level consumers feel more wealthy
B) a decrease in taxes and at a given price level consumers feel less wealthy
C) an increase in taxes and at a given price level consumers feel more wealthy
D) an increase in taxes and at a given price level consumers feel less wealthy
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A) real wealth rises.
B) the interest rate rises.
C) the dollar appreciates.
D) All of the above are correct.
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A) rises, so people will want to buy more. This response helps explain the slope of the aggregate demand curve.
B) rises, so people will want to buy more. This response shifts aggregate demand to the right.
C) falls, so people will want to buy less. This response helps explain the slope of the aggregate demand curve.
D) falls, so people will want to buy less. This response shifts aggregate demand to the left.
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A) in the short run.
B) in the long run.
C) in both the short run and the long run.
D) in neither the short run nor the long run.
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A) decreased, so they increase production.
B) decreased, so they decrease production.
C) increased, so they increase production.
D) increased, so they decrease production.
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A) has a slope that is explained in the same way as the slope of the demand curve for a particular product.
B) is vertical in the long run.
C) shows an inverse relation between the price level and the quantity of all goods and services demanded.
D) All of the above are correct.
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A) the price level and real output.
B) real output and employment.
C) employment and the inflation rate.
D) the value of money and the price level.
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A) A decrease in the price level causes the dollar to appreciate. Aggregate demand shifts right.
B) A decrease in the price level causes the dollar to depreciate. Aggregate demand shifts right.
C) If speculators lose confidence in the American economy, the dollar appreciates. Aggregate demand shifts right.
D) If speculators lose confidence in the American economy, the dollar depreciates. Aggregate demand shifts right.
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A) lending and investment spending
B) lending, but not investment spending
C) investment spending, but not lending
D) neither investment spending nor lending
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A) both the short run and the long run.
B) the short run, but not the long run.
C) the long run, but not the short run.
D) neither the long run nor the short run.
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A) while nominal variables are the first thing we may observe about an economy, what's important are the real variables and the forces that determine them.
B) money is the principal medium of exchange in most economies.
C) the primary determinant of short-run economic fluctuations is not real variables, but rather changes in the money supply.
D) in the long run money is of no importance to the determination of either real or nominal variables.
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A) rise, which means consumers will want to spend more on homebuilding.
B) rise, which means consumers will want to spend less on homebuilding.
C) fall, which means consumers will want to spend more on homebuilding.
D) fall, which means consumers will want to spend less on homebuilding.
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A) aggregate demand shifted right
B) aggregate demand shifted left
C) aggregate supply shifted right
D) aggregate supply shifted left
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