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1. Classical economists believe
2. The aggregate supply curve will shift to the right in response to
3. A fixed output level in the long run at full-employment output corresponds with which of the following shapes of the long-run Phillips curve?
4. Every choice results in a foregone best alternative, which economists call the
5. The aggregate demand curve has a negative slope in part because when the price level increases
6. When the value of the U.S. dollar appreciates relative to other currencies, which of the following is the most likely to occur?
7. Among those hurt by inflation are
I. borrowers at fixed interest rates
II. individuals on fixed incomes
III. those with savings earning fixed interest rates
IV. restaurant owners
8. A difference between M1 and M2 is that
9. Which of the following will cause the aggregate demand curve to shift to the left?
10. According to Keynesian economists,
11. Which of the following results from stagflation?
12. Which of the following will shift the demand curve for the Mexican peso to the left?