« previous next »

Author Question: A crisis in the Middle East drastically raises the price of petroleum. If the aggregate demand curve ... (Read 68 times)

ishan

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
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
Reply #1 on: Jun 29, 2018
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
« previous next »
 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Chemosynthesis-based community on the East Pacific Rise. Chemosynthesis-based community on the East Pacific Rise.
Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug. Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug.
Humid Middle-Latitude Climates with Mild Winters (C) Humid Middle-Latitude Climates with Mild Winters (C)
Climate Change in East Asia Climate Change in East Asia
Titration curve for aspartic acid Titration curve for aspartic acid
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
Video: Physiology of Asthma

For a complete list of videos, visit our video library