The effect of a decrease in the price of personal computers, other things constant, is likely to be best represented by which of the following?
a. a leftward shift of the demand curve
b. a movement leftward along the demand curve
c. a rightward shift of the demand curve
d. a movement rightward along the demand curve
e. a rightward shift of the supply curve
D
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If nominal GDP increases from one year to the next, then
A) production must have increased. B) production could have increased, decreased, or stayed the same. C) prices must have increased. D) prices and production must both have increased. E) prices and production must both have decreased.
Credit rationing and the financial accelerator are responsible, in part, for
A) the significant volatility of gross private investment. B) the significant volatility of real personal consumption. C) smoothing gross private investment during severe recessions. D) smoothing real personal consumption during expansions.