Which of the following would cause the short-run aggregate supply curve to shift to the left?
A) an increase in inflation expectations B) a decrease in interest rates
C) a technological advance D) an increase in the price level
A
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Suppose that the number of jobs in the fishing industry decreases but the number of jobs in the travel industry increases. Initially, ________
A) the economy remains at full employment B) structural unemployment increases C) there is a shortage of workers in both sectors D) cyclical unemployment increases
The branch of macroeconomics concerned with changes in the natural real GDP is the theory of
A) business cycles. B) economic growth. C) GDP gaps. D) unemployment.
"Income elasticity of demand is always positive." Do you agree or disagree? Explain
What will be an ideal response?
Total surplus in a market will increase when the government
a. imposes a tax on that market. b. imposes a binding price floor on that market. c. removes a binding price ceiling from that market. d. None of the above is correct.