The official rate of unemployment is based on a(n)
a. door-to-door survey.
b. telephone survey.
c. employer survey.
d. payroll survey.
b. telephone survey.
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A huge 50 percent off sale on golf clubs is advertised for next week. What happens this week in the market for golf clubs?
A) The supply of golf clubs decreases. B) The demand for golf clubs increases. C) The demand for golf clubs decreases. D) The supply of golf clubs increases. E) The demand for and the supply of golf clubs decreases.
At low levels of employment, the Keynesian aggregate supply curve:
a. tilts downward to the right. b. tilts upward to the right. c. is vertical. d. shows a constant price level. e. shows a rising price level.
Monetary policy affects real GDP by.
A. Changing aggregate supply B. Creating budget surpluses C. Changing aggregate demand D. Creating budget deficit
Starting from potential output, if consumer confidence increases and consumers decide to spend more, then this will generate a(n) ________ gap and inflation will ________.
A. recessionary; increase B. expansionary; increase C. recessionary; decrease D. expansionary; decrease