Which of the following causes a leftward shift in the short-run aggregate supply curve?
a. An increase of goods prices while nominal incomes are unchanged
b. An increase in nominal incomes.
c. An increase of full-employment real GDP.
d. An increase of personal consumption expenditures while the price level is unchanged.
e. An increase of personal consumption expenditures while full-employment real GDP is unchanged.
b
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The above figure shows a nation's production function. Point C is
A) unattainable given the nation's resource level. B) attainable if the nation uses resources efficiently. C) attainable if the nation uses resources inefficiently. D) the maximum amount of real GDP the nation can produce. E) the labor market equilibrium point.
When you purchase a bond in the secondary market, you are lending money directly to the borrower
a. True b. False Indicate whether the statement is true or false