Which of the following is related to the concept of trade-off used in economics?
a. Paying tuition to attend college
b. Paying a high price for a movie ticket on the first day of screening
c. Not having enough information available to make a rational decision
d. Giving up one good or activity in order to obtain some other good or activity
e. Having your cake and eating it too
d
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In the short-run macro model, rising GDP and a falling interest rate are most likely to be the result of a(n)
a. increase in the money supply b. decrease in the money supply c. increase in government purchases d. decrease in government purchases e. decrease in taxes
An increase in the U.S. price level (foreign prices held constant) will cause a leftward shift in the aggregate demand curve
a. True b. False Indicate whether the statement is true or false