A low unemployment rate implies that
A) job offers are scarce and inflation is high.
B) job offers are plentiful and wages are high.
C) jobs are permanent and job offers are plentiful.
D) jobs are difficult to find, and wages are low.
B
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If actual inflation differs from expected inflation, what is the slope of the aggregate supply curve?
A. The slope is horizontal in the short and long run. B. The slope is vertical in the short and long run. C. The slope is vertical in the short run and upward sloping in the long run. D. The slope is upward sloping in the short run and vertical in the long run.
A publisher sells $400,000 worth of books, magazines, and other reading materials in a given year. The publisher earns a profit of $100,000 that year. Her purchase invoices indicate that she bought $100,000 worth of glue, paper, and other materials during the year. Her labor costs were $150,000, and she purchased $45,000 of new equipment that year. Calculate her tax liability under a 12% consumption-type, value-added tax.
What will be an ideal response?
When you purchase a new surfboard you do so in the
A) factor market. B) input market. C) product market. D) resource market.
Assuming rational expectations and complete wage and price flexibility, systematic stabilization policy impacts
A) real GDP. B) real wages. C) the unemployment rate. D) the inflation rate.