The horizontal axis for an aggregate demand curve measures
A) output of all goods and services measured as a quantity index.
B) real Gross Domestic Product (GDP).
C) quantity demanded of the representative good.
D) disposable personal income.
B
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"Other things remaining the same, if the price of a good rises, the quantity supplied of that good increases." This sentence describes a
A) shift of a supply curve. B) shift of the price curve. C) movement along a supply curve. D) movement along the price curve. E) movement along the quantity curve.
Which of the following is NOT an example of an automatic stabilizer?
A. Welfare and transfer payments B. Taxes on corporate profits C. Unemployment insurance D. The tax cuts of 1981-1983
About one out of every _________ Hispanics is poor.
Fill in the blank(s) with the appropriate word(s).
The theory of efficiency wages challenges the assumption that
a. workers are efficient. b. workers have an incentive to shirk their responsibilities to their employers. c. wages must always adjust to balance labor supply and labor demand. d. firms sometimes choose to pay their workers above-equilibrium wages.