Which of the following will lead to a leftward shift in the U.S. SRAS curve?
A) a decrease in foreign input prices
B) an appreciation of the dollar
C) a depreciation of the dollar
D) a and b
E) none of the above
C
Economics
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Economists are critical of monopoly because
A) monopolists can earn long-run economic profit. B) monopolists can create a deadweight loss. C) the demand for the monopolist's product is the market demand curve. D) economies of scope result in lower average costs.
Economics
If Sean thinks that the choice between going to Olive Garden or Red Lobster is simply too confusing, a behavioral economist will explain that Sean is showing ________
A) the endowment effect B) bounded rationality C) bounded self-interest D) bounded will power
Economics