Stagflation usually results from
A) a supply shock. B) an increase in aggregate supply.
C) a decrease in aggregate demand. D) an increase in aggregate demand.
A
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The Great Depression of the 1930s, with a large number of workers and factories unemployed, would be represented in a production possibilities frontier graph by
A) a point outside the frontier. B) an intercept on either the vertical or the horizontal axis. C) a point inside the frontier. D) a point on the frontier.
If individuals decide to save more for retirement,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward. E) an excess supply of loanable funds emerges and persists.