An adverse supply shock shifts the short-run Phillips curve right and the short-run aggregate-supply curve left
a. True
b. False
Indicate whether the statement is true or false
True
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What is the quota for "diversity immigrants" into the U.S.?
A. 1 million per year B. 500,000 per year C. 50,000 per year D. 25,000 per year
Macroeconomists are interested in how consumers respond to changes in the market real interest rate because
A) interest rates are an important channel for the effects of monetary and fiscal policies. B) substitution effects and income effects net out in the aggregate. C) of the permanent income hypothesis. D) future income affects current consumption.
In a simultaneous game,
A) players have the benefit of seeing the moves of others before they make their moves. B) every player is looking forward and reasoning forward. C) one player has to go first. D) players do not have the benefit of observing the moves of other players before making their own.
When a subsidy is paid to potato growers, the market equilibrium quantity of potatoes ____ and the market price ____. In the market for potatoes, the MSC ____ MSB.
Fill in the blank(s) with the appropriate word(s).