Since the 1980s, China's output per person has increased tremendously. Which of these possible contributors to economic growth in China is a good example of a positive supply shock?
A) high levels of saving and investment
B) declining rate of population growth
C) rising consumption of energy
D) all of the above
E) none of the above
E
Economics
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If you have $5,000 in wealth and the price level decreases by 20 percent, then
A) the $5,000 will buy fewer goods and services. B) the $5,000 will buy more goods and services. C) the real value of the $5,000 decreases. D) the real value of the $5,000 remains constant.
Economics
In the Keynesian cross diagram, an increase in autonomous consumer expenditure causes the aggregate demand function to shift up, the equilibrium level of aggregate output to ________, and the IS curve to shift to the ________,
everything else held constant. A) rise; left B) rise; right C) fall; left D) fall; right
Economics