Refer to Scenario 7.3. When Q = 200, what is the marginal cost?

When OPEC's manipulation of oil supplies in 2000 doubled the price of energy, according to the AS/AD model, the

a. aggregate supply curve shifted to the right b. aggregate supply curve shifted to the left c. the aggregate demand curve shifted to the right d. aggregate demand curve shifted to the left e. price level in the economy fell

Which of the following is least likely to be the case?

A. Medicare changes the mix of output away from medical services. B. Housing subsidies encourage the production of additional housing. C. Food stamps encourage the production of more food. D. Student loans change the mix of output in favor of educational services.