An increase in the quantity of money shifts the aggregate demand curve rightward

The recession of 2008-2009 demonstrated that ________

A) consumption is especially sensitive to changes in the retirement age B) changes in wealth can be a major source of fluctuations in consumption C) as consumers get older, they tend to exhaust all their savings D) permanent income is something of a misnomer

Suppose rice can be produced in country X at a lower cost than in country Y, while tuna can be produced in country Y at a lower cost than in country X. International competition will:

a. destroy the rice market in both countries. b. drive X to specialize in rice and Y to specialize in tuna. c. drive Y to specialize in rice and X to specialize in tuna. d. cause both X and Y to reject international specialization. e. result in lower total output of rice and tuna.