An increase in the growth rate of nominal GDP would be displayed in our model as:
A. a parallel shift of the AD curve outward.
B. the AD curve becoming steeper.
C. a parallel shift of the AD curve inward.
D. the AD curve becoming flatter.
Ans: A. a parallel shift of the AD curve outward.
Economics
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Economics employs a scientific methodology. In part, this means that
a. all economic laws have been proven true by laboratory tests b. there is a single economic theory accepted by all economists c. economic hypotheses are tested to determine their validity d. personal values never enter into economic policy recommendations e. assumptions are not necessary in economic science
Economics
Refer to the graphs below. Which graph shows an increase in the price of X and a decrease in the price of Y?
A. Graph A
B. Graph B
C. Graph C
D. Graph D
Economics