If businesses buy fewer capital goods, and nothing else changes, then total expenditures on U.S. goods and services will decrease. And if total expenditures decrease, then __________ will decrease; consequently, the __________ curve will shift __________
A) aggregate demand (AD); AD; rightward
B) short-run aggregate supply (SRAS); SRAS; leftward
C) aggregate demand (AD); AD; leftward
D) interest rates; AD; leftward
E) prices; AD; rightward
C
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If the supply of labor ________, real wages rise and the amount of labor employed ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
A decrease in a wage taxes causes the opportunity cost of leisure to increase.
Answer the following statement true (T) or false (F)
Which of the following statements is most accurate about women's involvement in the labor force?
a. Over half of the women who entered the labor force between 1940 and 1944 had dropped out by 1950. b. Between 1940 and 1950 the number of women employed in the labor force dropped. c. After World War II, the supply of young married women available to work increased. d. Women made their largest gains in employment in the service and agricultural sectors.
If the economy is experiencing lower levels of unemployment, the short-run Phillips curve suggests that ____ additional employment can be purchased at ____ rates of inflation
a. greater; relatively low b. greater; higher c. lower; lower d. No such employment-inflation relationship is suggested by the Phillips curve.