Refer to the diagram. For output level Q, per unit costs of B are:
A. unattainable and imply the inefficient use of resources.
B. unattainable, given resource prices and the current state of technology.
C. attainable, but imply the inefficient use of resources.
D. attainable and imply least-cost production of this level of output.
D. attainable and imply least-cost production of this level of output.
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Which of the following events shifts the aggregate-demand curve leftward?
a. A decrease in government expenditures, but not a change in the price level. b. An increase in government expenditures or a decrease in the price level c. A decrease in government expenditures or an increase in the price level. d. An increase in the price level, but not a decrease in government expenditures.
Other things equal, which of the following might shift the demand curve for gasoline to the left?
A. The discovery of vast new oil reserves in Montana. B. The development of a low-cost electric automobile. C. An increase in the price of train and air transportation. D. A large decline in the price of automobiles.