If the price per barrel of Crude decreases in the international market, then this event would most likely:
a. Increase aggregate demand in the United States
b. Increase aggregate supply in the United States
c. Decrease aggregate supply in the United States
d. Decrease aggregate demand
b. Increase aggregate supply in the United States
Economics
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Refer to Figure 10.2. If in this economy the MPC = 0.6, Y2 = $50 billion, and AE2 is $5 billion below AE1, potential GDP is
A) $53 billion. B) $55 billion. C) $58.3 billion. D) $62.5 billion.
Economics
In order to increase the supply of a good, producers must
A) convince consumers to reduce the quantity demanded. B) see an increase in quantity supplied by competitors. C) reduce their per-unit costs of producing the good. D) cut back on labor to reduce production costs.
Economics