The quantity of aggregate goods and services demanded rises when the
a. price level rises, because the interest rate rises.
b. price level rises, because the interest rate falls.
c. price level falls, because the interest rate rises.
d. price level falls, because the interest rate falls.
d
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In the short run, an increase in inflation by the Fed not matched by an increase in the expected inflation rate results in ________ in the long-run Phillips curve and ________ in the short-run Phillips curve
A) no change; a downward shift B) a rightward shift; an upward shift C) a rightward shift; a downward shift D) no change; no change E) a leftward shift; an upward shift
When the prevailing market wage is above equilibrium, we say:
A. there is no unemployment. B. there is a surplus of labor. C. the quantity of labor demanded is more than the quantity supplied. D. All of these are true.
Which of the following make(s) insurance premiums higher than otherwise?
a. adverse selection and moral hazard b. adverse selection, but not moral hazard c. moral hazard, but not adverse selection d. neither adverse selection nor moral hazard
The demand curve of a monopolistically competitive producer is:
A. less elastic than that of either a pure monopolist or a pure competitor. B. less elastic than that of a pure monopolist, but more elastic than that of a pure competitor. C. more elastic than that of a pure monopolist, but less elastic than that of a pure competitor. D. more elastic than that of either a pure monopolist or a pure competitor.