The aggregate-demand curve shows that a decrease in the price level
a. decreases the dollar value of goods and services demanded in the economy.
b. decreases the real value of goods and services demanded in the economy.
c. increases the dollar value of goods and services demanded in the economy.
d. increases the real value of goods and services demanded in the economy.
d
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If the tariffs on textiles, apparel items, and footwear mentioned in the Application were replaced by equivalent voluntary export restraints (VERs), who would benefit the most?
A) the U.S. government B) high-income consumers C) low-income consumers D) the foreign manufacturer
The above figure shows the apartment rental market in Bigtown. If severe flooding resulted in the destruction of many of the city's apartment buildings, then the
A) supply curve of apartments would shift leftward and rent would rise above $750.00. B) demand curve for apartments would shift rightward and rent would rise above $750.00. C) equilibrium quantity of apartments rented would increase beyond 3,000. D) equilibrium market price of apartments rented would fall below $750.00.