Author Question: Which of the following could lead to a decline in aggregate supply in the U.S.? a. The discovery of ... (Read 21 times)

beccaep · **on:** Jun 30, 2018

Which of the following could lead to a decline in aggregate supply in the U.S.?
a. The discovery of new mineral deposits in Arizona
b. Higher real wage rates in the U.S.
c. Lower personal income in France
d. Cutbacks in government borrowing
e. Rapid depreciation of the Swiss franc

Question 2

Which of the following best illustrates the fallacy of composition?
a. I hate driving to work when the traffic is so heavy, so I decide to leave 30 minutes earlier than in the past. If everyone were to leave 30 minutes earlier for work, we'd all get to work faster.
b. A great many people have been immunized against polio because it can be such a devastating disease. As a result, I probably do not personally need to be immunized against polio.
c. Whenever I attend a baseball game at the local stadium, the home team wins. Therefore, if I attend all of the team's local games, they will achieve a perfect winning record at home.
d. The parking at Ohio State University is in short supply on the main campus. It would be better for more people to ride the bus to school.