During times of financial hardship, the number of people on public assistance ______, causing aggregate demand to ______.
a. decreases; decrease
b. increases; increase
c. decreases; increase
d. increases; decrease
b. increases; increase
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Assume that average labor productivity is the same in each country. Based on the information in the table, which country has the smallest real GDP per capita?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. Country B B. Country D C. Country A D. Country E
In many large U.S. cities, taxicab companies operate as near monopolies because of_____.
A. patents B. strategic pricing C. licenses D. economies of scale
The chairman of its Board of Governors is appointed by the president; the Fed operates without independence from the executive branch of the government
a. True b. False Indicate whether the statement is true or false
The main determinant of how quickly expected inflation adjusts to changes in monetary policy is
A. the slope of the Phillips curve. B. the credibility of the central bank. C. the slope of the short-run aggregate supply curve. D. the degree of indexation in the economy.