Answer:
Option (B) is correct.
Explanation:
When there is an increase in the interest rate then as a result this will shift the aggregate demand curve leftwards. This is because of the fall in one of the component of aggregate demand curve that is investment.
Increased interest rate will reduce the investment demand and hence shifts the aggregate demand curve rightwards. This increase in the interest rate will also increase the reserves of the banks.
When there is a leftward shift in the AD curve then as a result there is a fall in both real GDP and Price level in an economy.
The first step in the human resources planning process is to <u>forecast future human resource needs. </u>
Answer: D.
Explanation:
For the supply to shift left, there must be a major development in the supply chain that will affect supply enough to decrease it for every price supplied.
Looking at the answers:
A. an increase in technology: this would not cause supply to be more expensive.
B. a decrease in the cost of a substitute would decrease demand, not supply.
C. an increase in consumer income levels would increase demand, as more consumers would be demanding more of the produce or service.
D. an increase in the cost of inputs for widgets would DECREASE supply, as the production of widgets is made more expensive at the same cost.
D is the correct answer.
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Answer and Explanation:
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B. Economists have different values and scientific judgment. Economists exercise both subjective and objective judgments about data that they collect and observations that they make. These values and judgments differ among economists which can affect their advice or opinions, sometimes leading to conflicting advice.