« previous next »

Author Question: A crisis in the Middle East drastically raises the price of petroleum. If the aggregate demand curve ... (Read 79 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?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

A Dose-Response Curve A Dose-Response Curve
Processes of the Middle and Upper Troposphere: Rossby Waves and Vorticity Processes of the Middle and Upper Troposphere: Rossby Waves and Vorticity
East Wing Stairwell East Wing Stairwell
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di
Video: Dietary Cholesterol & LDL

For a complete list of videos, visit our video library