According to the text, which of the following are both imports and exports for the United States?
A. Cars, computers, and auto parts.
B. Computers, oil, and auto parts.
C. Baseballs, computers, and cars.
D. No single product can be both an import and an export for a given country.
Answer: A
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In the short run, lowering the federal funds rate shifts the aggregate demand curve ________ so that real GDP ________ and the price level ________
A) leftward; decreases; rises B) rightward; increases; rises C) rightward; decreases; rises D) leftward; decreases; falls E) rightward; increases; falls
Why would the supply curve of a dog-walking business be considered elastic?
(A) Because it can hire workers quickly if the price rises. (B) Because the supply of dogs changes quickly. (C) Because the supply of dog walking isn't easily expanded or reduced. (D) Because the demand for dog-walking services fluctuates.