Which of the following is a reason why aggregate supply decreased following the housing bubble collapse?
A. Businesses could not access credit to carry out their daily operations.
B. Consumption decreased.
C. People stopped investing in homes.
D. Government tax rates were altered as a response to change in aggregate output.
A. Businesses could not access credit to carry out their daily operations.
Economics
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At a given price level, a decrease in consumer credit will shift the aggregate demand curve:
A) rightward. B) leftward. C) both. D) none of the above.
Economics
Refer to Scenario 10.9. At the profit maximizing level of output, what is the level of producer surplus?
A) 0 B) 1,800 C) 5,400 D) 7,200 E) 9,600
Economics