In terms of the aggregate demand and aggregate supply framework, the Great Depression can be viewed as a:
a. rightward shift of the aggregate demand curve
b. rightward shift of the aggregate supply curve.
c. downward movement along the aggregate demand curve.
d. a leftward shift of the aggregate demand curve.
e. a leftward shift of the aggregate supply curve.
d
You might also like to view...
The minimum points of the average variable cost and average total cost curves occur where
a. the marginal cost curve lies below the average variable cost and average total cost curves b. the marginal cost curve intersects those curves c. wages are the lowest d. the slope of total cost is the smallest e. the elasticity of demand is unitary
Which of the following is concerned with the distribution part of resource allocation?
a. An economy decides to produce equal quantities wheat, rice, and clothes. b. An economy decides to use 25% of the available capital for producing clothes. c. An economy decides to ration 40% of its output to low income groups. d. An economy decides to use more labor for producing wheat and rice.