An increase in economic growth in China will
A. shift the supply curve of US corn to the right.
B. shift the supply curve of US corn to the left.
C. shift the demand curve for US corn to the right.
D. shift the demand curve for US corn to the left.
Answer: C. shift the demand curve for US corn to the right.
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If the government saved during an economic boom by increasing taxes or decreasing spending, this would be:
A. contractionary fiscal policy. B. expansionary monetary policy. C. expansionary fiscal policy. D. contractionary monetary policy.
The relationship between quantity supplied and the price of output is such that
A) an increase in quantity will automatically lead to a reduction in price. B) an increase in price will lead to an increase in quantity supplied. C) an increase in price will produce an inward shift in the supply curve. D) quantity will decrease as the number of firms increases.