List two things that can cause the industry supply curve to shift
What will be an ideal response?
(1.) A change in the costs of an input – for example, due to a change in the price of an input or change in technology.
(2.) A change in the number of firms in the industry.
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If an unintended increase in business inventories occurs at some level of GDP, then GDP:
A. entails a rate of aggregate expenditures in excess of the rate of aggregate production. B. may be either above or below the equilibrium output. C. is too low for equilibrium. D. is too high for equilibrium.
In actual practice, does the Fed monetize the debt?
A. No, it did not do so even with large deficits in the 1980s and early 2000s. B. No longer, although it monetized much of the deficit in the 1980s. C. Yes, although it monetizes less now than in the 1980s. D. Yes, it has monetized the deficit steadily since the early 1970s.