In the above figure, the curve's slope is
A) positive and is becoming steeper.
B) positive and is becoming less steep.
C) negative and is becoming steeper.
D) negative and is becoming less steep.
B
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Suppose a fall in stock prices makes people feel poorer. The decrease in wealth would induce people to
a. decrease consumption, shown as a movement to the left along a given aggregate-demand curve. b. increase consumption, shown as a movement to the right along a given aggregate-demand curve. c. decrease consumption, shown by shifting the aggregate-demand curve to the left. d. increase consumption, shown by shifting the aggregate-demand curve to the right.
If an economy is operating on its production possibility frontier, which of the following statements is true?
A. Products are produced using inefficient production technology. B. The capacity utilization rate is less than full production. C. The economy's labor force is fully employed. D. A fall in the price of an input will enable the economy to produce outside the production possibility frontier.