Author Question: A crisis in the Middle East drastically raises the price of petroleum. If the aggregate demand curve ... (Read 64 times)

ishan

  • Hero Member
  • *****
  • Posts: 546
A crisis in the Middle East drastically raises the price of petroleum. If the aggregate demand curve does not shift, then aggregate supply will ________, real GDP will ________, and the price level will ________.
 
  A) increase; remain the same; increase
  B) decrease; decrease; increase
  C) increase; increase; increase
  D) remain the same; increase; increase
  E) decrease; remain the same; decrease

Question 2

What is the opportunity cost of government work?
 
  What will be an ideal response?



covalentbond

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

B

Answer to Question 2

The output that could be produced with the time and talent of individuals allotted to bureaucracy is the opportunity cost of government work.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

For a complete list of videos, visit our video library